Morning call: CRUDE 111.52 +1.06%; COTTON 95.65 -0.04%; BDI 1053 -4.71%

Crude rose in late Asian trading on geopolitical concerns after inflammatory comments from Iran’s governor to OPEC regarding the impact of any disruption in the Straits of Hormuz. Meanwhile Nigeria’s main labour unions suspended strike action in the OPEC oil producer.

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