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Global oil prices edged higher in after-hours trading Monday to recoup portion of the nearly 11% lost during the regular session, as traders geared up for what's likely to be another day driven by developments in the Iran conflict.
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President Trump once assailed the Obama administration for making cash payments to Iran. Now he supports sanctions relief that could give the country a $14 billion windfall.
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Several states paused gas taxes when oil prices surged in 2022 following Russia's invasion of Ukraine. This time is different, though.
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Oil prices tumbled and yields on government bonds pulled back from highs. But the response faded as the day went on.
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Trump Administration to Pay $1 Billion to Energy Giant to Cancel Wind Farms The New York TimesTrump administration to pay $1 billion to stop two East Coast wind farms The Washington PostTrump administration, energy developer announce end of U.S. offshore wind projects PoliticoTrump admin dumps Biden-era wind projects for billion-dollar investment in US oil Fox Business
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Dow soars 1,000 points as Trump claims talks held with Iran abcnews.comTrump has TACO'd again, this time in Iran, sparking a $1.7 trillion stock market rally in minutes FortuneStocks Rise—And Gold Drops—In ‘Relief Rally' After Iran War Fears Eased ForbesStock Market Today: Dow on pace for best day in 6 weeks as Trump pauses Iran infrastructure strikes; oil prices slide MarketWatch
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