U.S.-Israeli strikes on Iran closed the Strait of Hormuz, cutting seaborne oil supply and driving WTI up 16.1% to $97.26.
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Hormuz closure and the resulting crude spike lifted U.S. retail gasoline to $4.16/gal, supporting RBOB gasoline futures.
Diesel crossed $6/gal for the first time on record as the Hormuz closure tightened global fuel supply.
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