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The U.S. attack on Iran won't boost U.S. inflation or harm the economy in a major way, analysts say, unless in the unlikely case that the conflict drags on for months and sharply raises the price of oil.
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Mortgage rates moved decidedly higher Monday, as the U.S. war with Iran pushed oil prices up and Treasury yields followed.
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Investors leaned onto U.S. energy stocks on Monday, with the widening conflict in the Middle East boosting shares of major U.S. exploration and production and integrated-energy companies, in particular Chevron, whose stock zoomed toward a record high.
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Middle East flights: First departures bring slight relief amid global aviation turmoil Euronews.comEmirates says it will resume 'limited number' of flights, El Al weighs use of private jets CNBCUAE airlines to resume limited number of flights, mainly for repatriations Reuters
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The war in the Mideast has effectively halted shipping through the Strait of Hormuz, threatening to push up gas prices and raise the cost of other goods.
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The strikes come at a precarious time for stocks, forcing investors to weigh the fallout of a potential prolonged disruption to oil supplies and logistics.
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The workhorse of the fuel world was climbing on Monday following a drone strike on a major Saudi refinery.
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Global oil prices are in the high $70s as traffic through Strait of Hormuz comes to a halt. Some analysts have warned they could top $100 a barrel if the stoppage is prolonged.
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