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Int'l Oil Prices Nosedive ~10%; France Deploying ~10 Warships, Considering Hormuz Strait Mission
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International oil prices faced a rout this morning (10th). Brent oil futures for May delivery last dropped by 10.14% to USD88.93 per barrel, while New York oil futures for April delivery sank by 9.56% to USD85.71 per barrel. France is deploying around 10 naval vessels, including its aircraft carrier strike group, to the Mediterranean, Red Sea, and possibly the Hormuz Strait, to provide defensive support to allies threatened by the Middle Eastern conflict, said French President Emmanuel Macron. Macron stated that France's goal is to maintain a defensive posture and stand with all countries facing retaliatory attacks from Iran. This mission must be prepared jointly with European and non-European countries, so that container ships and oil tankers will receive escorts as soon as possible after the most intense phase of the conflict ends, and the Hormuz Strait will reopen gradually. AAStocks Financial News |
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