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Drivers are paying an average of 20 percent more at the pump since the strikes on Iran began. The global oil price was up and stocks in Asia rose.
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Asian Stocks Poised for Gains, Oil Swings Higher: Markets Wrap Bloomberg.comShares steady, oil turbulence deepens over Middle East war fears ReutersIEA Reportedly Proposes Largest Ever Oil Stockpile Release Bloomberg.comWhy emergency oil releases won't fix this crisis CNNOil Futures Mixed as Traders Digest IEA's Proposal to Release Strategic Reserves
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Iran fires missiles, drones at Gulf nations as ship hit in Strait of Hormuz Al JazeeraIran keeps up pressure on oil infrastructure as concerns of global energy crisis grow AP NewsIran-US war latest: Tehran launches ‘most intense' barrage of missiles since start of conflict The IndependentIran targets commercial ships, Dubai airport
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Iran has continued to ship crude oil via the Strait of Hormuz to China even as the war between U.S.-Israel and Iran has disrupted broader energy supplies via the waterway.
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Oil futures settled sharply lower on Tuesday, extending losses from the overnight session, as world leaders considered releasing emergency crude supplies with the Iran conflict stretching into an 11th day.
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Confusion over US naval escorts in Strait of Hormuz exposes lack of clarity over war aims
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Panic in the oil market has calmed down, with prices pulling back from the week's highs near $120 a barrel after a group of wealthy nations said they will consider a coordinated release of emergency global crude reserves
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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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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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War chokes the Strait of Hormuz, leaving hundreds of oil tankers and container ships stranded and raising alarms of a looming global energy shock and food shortages across the Gulf and beyond.
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The rise in yields reflects inflation fears.
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