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Energy Shares Edge Higher as Oil Futures Level Off

Energy shares posted modest gains as oil futures steadied, after crude fell 0.9% to $86.04 a barrel in New York. The price is now 24% below its April peak, while developments around Iran and the Strait of Hormuz continue to shape the market backdrop.

Energy Shares Edge Higher as Oil Futures Level Off

President Trump said further strikes on Iran would not be necessary. The Wall Street Journal, however, reported that the United States and Iran are engaged in a fierce struggle for control of the Strait of Hormuz, nearly nine months into the conflict.

Both sides have struck islands in the waterway in recent days, the newspaper reported.

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