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Iranian-linked ships carrying Russian oil were among those that received temporary exemptions from sanctions, a sign of how dire the energy crisis is becoming.
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Why Trump's Kharg Island attacks could make the oil crisis worse AxiosTrump's warning over Kharg Island raises the stakes for Iran's oil exports CNBCGulf States Intercept New Missiles and Drones as Iran Threatens to Widen War Military.comUS 'locked and loaded' to destroy Iran's 'crown jewel' 'if we want,' Trump warns
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As the broader war in the Middle East begins its third week, worries over the fallout of crippled energy supplies continue to roil markets.
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The outlook for the U.S. economy will continue to darken as long as the Strait of Hormuz remains effectively closed to oil-tanker traffic, even though the U.S. now produces about as much oil and natural gas as it consumes.
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Wall Street bets on a March end to the Iran conflict — but Tehran is playing for a November U.S. regime change.
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The U.S. attacked Kharg Island while a UAE trading hub was hit by drones.
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Elevated oil prices can hurt economic growth, making cyclical stocks less attractive
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U.S. stock-index futures reversed early losses on Sunday as the market braced for more volatility in oil prices this week, with the conflict with Iran threatening to escalate further.
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