Crude oil prices set for weekly gains after Iran warnings, no war off-ramp

In his first public comments after becoming the Supreme Leader, Mojtaba Khamenei said that Iran will seek to ensure that the critical waterway, the Strait of Hormuz, remains shut for oil and gas supply. In television comments translated by Reuters, Khamenei said that Iran will either seek compensation for the destruction caused, or will destroy assets of “enemies” accordingly.

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