00:00Oil prices are climbing again, and the world is watching one place closely, the Strait of Hormuz.
00:06Even after a sharp drop on Monday, oil bounced back fast on Tuesday,
00:11as the biggest supply disruption in the world still has not gone away.
00:15Brent crude jumped above $101 a barrel, while U.S. oil rose past $90.
00:20Why does this matter so much?
00:22Because nearly one-fifth of the world's oil and gas moves through the Strait of Hormuz.
00:27And right now, that flow is still heavily disrupted.
00:31At the same time, tension is rising again between the U.S. and Iran.
00:35Donald Trump said both sides had made major progress toward a deal,
00:39but Iran quickly denied having any talks with Washington.
00:43That contradiction has made traders even more nervous.
00:47Analysts say the risk is far from over, and if Hormuz stays effectively shut through April,
00:52Brent crude could skyrocket to $150 a barrel.
00:55That would break the all-time record set back in 2008.
00:59And with fresh attacks reported on energy infrastructure inside Iran,
01:03the oil market is now reacting to one simple truth.
01:07The conflict may sound quieter for a moment, but the danger is still very real.
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