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Story summary
- The conflict between the United States, Israel, and Iran disrupted oil shipments through the Strait of Hormuz.
- Analysts report an 80% drop in Strait of Hormuz traffic.
- Brent crude rose to nearly $80 per barrel amid fears of higher prices.
- Iran's Islamic Revolutionary Guard Corps (IRGC) claimed the strait was closed.
- The disruption raises inflation concerns and energy risks for Asian economies reliant on regional oil and gas.
