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The US officials said that President Donald Trump instructed aides to prepare for an extended blockade of Iran, the Wall Street Journal reported on Wednesday.
The report stated that Trump opted to continue squeezing Iran’s economy and oil exports by preventing shipping to and from its ports. The source added that Trump believed that his other options, including resuming bombing or walking away from the conflict, carried more risk than maintaining the blockade.
Market reaction
At the time of writing, the West Texas Intermediate (WTI) is up 1.08% on the day at $96.50.
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