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Oil price jumps to $115 after reports of 'extended' Iran blockade

The price of crude oil has swung sharply as uncertainty over the war in the Middle East continues. Oil prices have climbed sharply following reports that the US is preparing for an 'extended' blockade of Iran. Brent crude rose to around $115 (£85) a barrel on Wednesday, having closed at just over $110 (£81) on Tuesday evening. The price had fallen... [2292 chars]

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