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Oil Prices Slide as Trump Administration Escalates Iran Rhetoric

Crude oil extended losses into a second consecutive session as markets absorbed renewed threats of military action against Iran from the Trump administration. Potential strikes have raised supply concerns, particularly regarding the Strait of Hormuz. Analysts warn that US-Iran tensions could create volatility heading into the summer driving season. The ongoing closure of the Strait of Hormuz limits alternative routes for crude shipments. Energy traders are monitoring diplomatic developments and policy announcements from Washington for their impact on oil markets.