Oil Price Today (July 7): Crude oil snaps 2-day fall as projectile hits tanker in Hormuz. Where are prices headed?

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Brent crude futures rose 28 cents, or 0.39%, to $72.29 a barrel, while U.S. West Texas Intermediate (WTI) crude gained 29 cents, or 0.26%, to $68.84 a barrel. Both benchmarks had settled close to their pre-Iran war levels on Monday.