WTI crude closed at $85.47 Friday, up 2.3% on the day, capping a volatile seven-week stretch. The price fell to a late-June low near $69 before an escalation near the Red Sea pushed it to $92.19 by July 23, then eased through a brief diplomatic pause. It rallied again after Friday's reported strikes on tankers near the Strait of Hormuz, one of several flashpoints in an ongoing conflict between the United States and Iran.
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