Oil prices hold steady even as Iraq resumes some exports via Turkey
CNN
Oil prices held steady Wednesday after Iraq clinched a deal to resume some crude exports via Turkey. It’s not a ton of oil, but it’s what amounts for good news these days as the Strait of Hormuz remains largely blocked.
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The price of oil rose to its highest level since July 2022 Sunday evening as the Trump administration suggested the war with Iran could last several more weeks and President Donald Trump called on the international community for help reopening the Strait of Hormuz to oil tankers.
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The worst global oil crisis in decades could become a major problem for the Federal Reserve, whose policymakers meet this week to determine the next moves for the US economy.
President Donald Trump’s attack dog atop the FCC, Brendan Carr, garnered lots of attention on Saturday for threatening the licenses of local broadcasters over news coverage he deemed to be “fake.”
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US economic growth was even weaker than previously reported at the end of last year heading into President Donald Trump’s war with Iran.
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The efforts to mitigate an global oil shortage did little to dampen the rise in crude prices
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Stocks fell and oil prices surged Thursday as the war with Iran continued to stoke fears of higher energy costs and disruptions to the global economy.