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Estimates from Wall Street project that if oil prices stay elevated for too long, consumers will lose as much as they gain from the new tax law.
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Stock Market Today: Dow Claws Higher; Micron Pops While Pharma Name Breaks Out (Live Coverage) Investor's Business DailyOil prices dive as Trump says Iran war will end ‘very soon' CNNTrump Hears the Markets' Fears About Iran War Bloomberg.comUS stocks hold steadier as Wall Street waits for the next signal on how long war with Iran may last AP NewsOil Prices Offer Up a Stunning Reversal | What's News for March 9 WSJ
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Why should oil and gas companies drill? Prices have been — and still are — too low for them to bother.
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If the war continues for much longer, diesel could soon test its all-time high of $5.82, set in June 2022 after Russia's invasion of Ukraine.
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What's next for crude-oil prices as wealthy nations consider a release of their reserves MarketWatchWhy emergency oil releases won't fix this crisis CNNAsian Stocks Poised for Gains, Oil Swings Higher: Markets Wrap Bloomberg.comIEA countries to meet later Tuesday on release of oil reserves, but no decision made yet CNBC
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American and Israeli airstrikes in Iran closed a critical shipping lane. U.S. businesses and consumers brace for pain at the pump.
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Cruise stocks were among the S&P 500's biggest decliners since the Middle East conflict, and it's not just about rising fuel prices
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Treasury yields were edging up Tuesday, but traded below levels seen Monday when inflation fears tied to oil's surge were rising.
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The Gulf conflict has led to higher fuel prices, and the cost of operating a plane has sharply increased. For travelers, that likely means higher fares.
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Concern that oil production and shipment from the region will remain limited has lifted the price of crude oil — the largest factor in the cost of a gallon of gas — sharply.
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Also in today's newsletter: Chinese consumer prices bounce back and Anthropic sues the Pentagon
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President Trump insists the conflict will be brief, but world leaders are preparing for severe economic blowback.
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The escalating conflict in Iran is driving up oil costs, and in turn gas costs.
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Nine state-owned energy giants including Saudi Arabia's Aramco have shelved or delayed plans to sell shares to the public amid volatile crude-oil prices of the past three years.
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