Crude oil prices eased Tuesday in extended trading, after Pres. Trump said the U.S. would insure tankers moving through the Strait of Hormuz.

Oil prices ease after Trump says US will insure tankers transiting Strait of Hormuz

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Crude oil prices eased Tuesday in extended trading, after President Donald Trump said the U.S. would provide insurance to tankers in the Persian Gulf to get maritime traffic moving through the Strait of Hormuz.

U.S. crude prices rose 4.68%, or $3.33, to close at $74.56 per barrel, while global benchmark Brent gained 4.71%, or $3.66, to settle at $81.40. Prices had surged more than 9% earlier on fears the widening war in the Middle East would result in a prolonged disruption to regional oil and gas supplies.

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Source: CNBC

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