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Cornwall Insight says the recent surge in energy prices due to the Iran war is set to push up household bills.
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Oil prices were higher on Friday even after Treasury Secretary Scott Bessent said Washington may soon lift sanctions on Iranian crude stored aboard tankers.
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The metals saw bumpy trade on Friday morning, after joining a broad sell-off the previous day.
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From waiving the Jones Act to rerouting oil through the Red Sea, governments are doing their best to make up for the crisis in the Strait of Hormuz, but prices are still rising.
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President Trump and Prime Minister Benjamin Netanyahu of Israel suggested that the war with Iran could end soon, but that there were still more attacks ahead.
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Attacks on oil and natural gas facilities this week could make it much harder for Persian Gulf countries to rebuild and restart production when the war eventually end.
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