Oil prices rise with the start of the American operation in the Strait of Hormuz

Oil prices rose by about 4% on Monday, after the United States announced the launch of a naval operation in Strait of Hormuz.
Futures contracts rose For Brent crude $4.16, or 4.4%, to reach $99.36 upon settlement.
The price of US West Texas Intermediate crude oil recorded an increase of $2.51, or 2.6%, to reach $99.08 per barrel.
Earlier in the session, Brent contracts rose by more than $8 per barrel, while West Texas Intermediate crude contracts rose by more than $9.

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