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Oil prices surged overnight Monday, settling near $100 a barrel as the conflict with Iran shows no signs of slowing down. Energy Secretary Chris Wright on Sunday downplayed concerns about the Strait of Hormuz’s closure and its effect on energy prices. President Trump called it a “very small price to pay” for “peace” in a social media…
The war in Iran has created a bottleneck for the world’s energy supply, sending oil prices surging to $100 a barrel, the highest level in years. NBC’s Christine Romans reports for TODAY on how the escalating conflict is rattling stock markets around the world and how Americans are feeling a worse-than-expected pinch at the pump.
The Group of Seven nations have decided against jointly releasing hundreds of millions of barrels of crude oil reserves to stanch skyrocketing prices, which have hit over $100 a barrel in what has been described as the most severe energy crisis since the 1970s. Following a virtual call on Monday, it was revealed that the…
