India, July 15 -- Oil prices traded higher for a third consecutive session on Wednesday as the U.S and Iran escalated a standoff over control of the Strait of Hormuz, raising fears of prolonged disruptions to energy supplies.
Brent crude futures traded half a percent higher above $85 a barrel, while WTI crude futures were up 0.6 percent at $79.83.
U.S. forces resumed the naval blockade against vessels transiting to and from Iranian ports and coastal areas, and President Donald Trump threatened to hit energy targets in Iran, deepening fears of a wider supply disruption.
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