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Iran announced plans for a new "exclusion zone" stretching from the US naval blockade line through the Strait of Hormuz into the Persian Gulf, threatening to sanction any ship entering the area — the sharpest escalation yet in a conflict already choking 20% of the world's oil supply. Brent crude surged to $97/barrel on Monday, up 19% in a month, while India's own crude import basket breached $101.07/barrel, crossing the $100 threshold for the first time...
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