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US crude rises above $100 as gas and diesel prices move sharply higher
Oil surged above $100 a barrel after attacks on shipping, while U.S. diesel reached a record $5.94 and California stations hit $9.99.
- Oil prices surged above $100 a barrel for the first time since July, following the "biggest wave of attacks on shipping by both sides" near the Strait of Hormuz.
- Iran on Wednesday said it attacked two U.S. ships and eight tankers, which The Pentagon said were retaliation for Iran's first confirmed attacks on U.S. Navy ships during the six-month war.
- U.S. gas prices hit $4.22 per gallon, and diesel rose to a record $5.94 per gallon; on Thursday, five gas stations in California maxed out diesel at $9.99 per gallon, according to GasBuddy.
- President Donald Trump told reporters on Wednesday he thinks the war will end immediately after the election, but Top White House advisers have "privately" discussed with Trump "that the Iran war could drag on through the remainder of his term," the Journal said.
- Attacks also damaged "several fighter jets" at a base in Jordan, and The New York Times noted both nations "appear to be stuck in a cycle that is draining U.S. air defenses and deepening Iran's economic crisis.
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Cryptocurrency News | Cryptocurrency Prices | Market CapUS diesel prices surge past $5 amid Middle East, Russia supply disruptions
Rising diesel prices may trigger broader economic impacts, potentially driving crude oil to new highs and affecting global market stability.
A sharp increase in European natural gas, which reached 80 euros per megawatt-hour
Coverage Details
Total News Sources22
Leaning Left8Leaning Right1Center9Last UpdatedBias Distribution50% Center
Bias Distribution
- 50% of the sources are Center
50% Center
L 44%
C 50%
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