Rebounding from three straight sessions of losses, crude oil prices have soared on Wednesday as the Strait of Hormuz is yet to reopen despite mediatory efforts by Pakistan and Qatar to end the U.S.-Iran war. Investors also await U.S. moves after Iran and Oman reached an agreement to create a temporary corridor in the critical waterway.
WTI Crude Oil for October month delivery was last seen trading up by $1.35 (or 1.64%) at $83.58 per barrel.
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