Risk is rising for oil markets after another alleged attack on shipping near the strategic Strait of Hormuz.
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Oil prices surged Thursday by more than 3% to trade above $62/b after two tankers were damaged in the Gulf of Oman.
The Strait of Hormuz is a critical chokepoint through which 30% of the world's seaborne oil transits.
Global refiners rely heavily on crude imports from the Middle East, most of which pass through the strait.