“The Strait of Hormuz is essentially closed, and yet prices are only up a little bit,” said oil forecaster Dan Pickering, founder of the Pickering Energy Partners consulting and research firm, admitting he expected greater market movement.
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Footage from local media showed people rushing to collect banknotes while police in riot gear tried to disperse them using teargas. Authorities were later seen setting the money alight in a bonfire at the scene of the crash.