Published May 7, 2026, 8:56 PM ET · Updated 6 months ago · 2 sources
Oil resumes rally as U.S.-Iran fire exchange rattles fragile Hormuz ceasefire
CNBC Markets
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Original Report
Oil prices surged Friday following an exchange of fire between the U.S. and Iran in the Strait of Hormuz. This incident has reignited concerns about the stability of the existing ceasefire between the two nations.