Oil prices climbed more than 2% today, pushing Brent crude above $85 for the first time in a month after Donald Trump proposed Hormuz shipping fees and a renewed Iran port blockade. Brent reached $85.11, while WTI rose to $79.91. The move raised supply concerns, with the US planning vessel charges and enforcing restrictions from today onward.
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Brent Crude Crosses $85 Amid Hormuz Fee Concerns
