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Commodities Corner: Here’s what’s at stake for oil as Iran-U.S. tensions escalate

The U.S. and Iran appeared to move closer to military conflict Thursday, and that’s likely to keep a floor under oil prices until the threat of supply disruptions in the Middle East passes, analysts said.

Iran’s downing of a U.S. military drone near the Strait of Hormuz hasn’t caused any losses in oil supplies, but it has ratcheted up tensions between the countries, which had already been at odds following recent attacks on two oil tankers — as well as earlier attacks on other tankers — that Washington blamed on Tehran. That’s heightening worries about potential disruptions to global oil flows.

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