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A bulletproof U.S. economy has shot past a series of shocks since the 2020 pandemic and grown for five straight years, but soaring oil prices tied to the Iran war have emerged as a potential trigger for recession.
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The Oil Prices You See Don't Tell the Market's Real Story Bloomberg.comExclusive | Saudi Arabia Sees a Spike to $180 Oil if Energy Shock Persists Past April WSJOil prices top $112 after Iraq declares force majeure, Kuwait refineries attacked CNBCHow High Will Oil Prices Go? Global Markets Brace for More Bad News. The New York Times
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Trump administration lifts sanctions on millions of barrels of Iranian oil The Washington PostLive updates: Iran war news; US removes sanctions on 140 million barrels of Iranian oil CNNUS lifts sanctions on Iranian oil at sea in bid to ease supply pressures The GuardianUS Treasury Allows Sale of Some Iranian Oil Stranded on Vessels Bloomberg.com
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War in Iran has disrupted global oil supplies, which is prompting some car shoppers to look for ways to climb off "the gas-price roller coaster."
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But at just 35 miles wide, it did. It's just the latest evidence of how dependent the global economy is on a handful of choke points.
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The Strait of Hormuz Was Supposed to Be Too Big to Fail The New York TimesIran does not need to close the Strait of Hormuz to disrupt it Al JazeeraAbout 90 ships cross the Strait of Hormuz as Iran exports millions of barrels of oil despite the war AP NewsIran Unwilling to Talk About Opening Strait of Hormuz While Under Attack Bloomberg.com
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Why the US wants to protect Iran's oil and gas VoxExclusive: Qatar's energy boss says he had warned of dangers of provoking Iran ReutersTrump's Complaint About Israeli Strike on Gas Field Exposes Divergent Strategies The New York TimesIran hits Gulf energy sites, escalating war, as U.S. mulls sanctions rollback The Washington Post
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Treasury Secretary Scott Bessent estimated that the move would add about 140 million barrels of crude to the oil market.
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Oil Prices Tick Up and U.S. Stocks Fall Sharply The New York TimesExclusive | Saudi Arabia Sees a Spike to $180 Oil if Energy Shock Persists Past April WSJOil prices top $112 after Iraq declares force majeure, Kuwait refineries attacked CNBCHow High Will Oil Prices Go? Global Markets Brace for More Bad News. The New York Times
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Oil prices settled higher Friday, with global benchmark Brent crude posting a fifth straight weekly gain, after the Pentagon said it is sending more troops and warships to the Middle East.
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The pressure on Trump to deescalate in the Middle East is building. Markets need to be convinced oil is back below $100 forgood before they can rally concertedly.
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Oil Prices Today: After Spiking to $119, How Much Higher Can They Go? Barron'sExclusive | Saudi Arabia Sees a Spike to $180 Oil if Energy Shock Persists Past April WSJOil prices top $112 after Iraq declares force majeure, Kuwait refineries attacked CNBCHow High Will Oil Prices Go? Global Markets Brace for More Bad News. The New York Times
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The overall economy has proved resilient in recent years, even as many households have struggled. The war with Iran is following the same pattern.
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There's considerable damage being done below the surface of the stock market as oil prices surge, and no end in sight to the Iran conflict
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