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It is unclear who will ultimately govern Iran, the fourth-largest oil producer in OPEC, after U.S.-Israel strikes killed Ayatollah Ali Khamenei.
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The price of oil surged Sunday after U.S. and Israeli strikes on Iran, which killed its supreme leader.U.S.
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Oil futures on Monday jumped by over 8%, with West Texas Intermediate futures and Brent trading at $72.52 and $79.04 per barrel respectively.
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How long prices remain high will depend on what the United States, Israel and Iran do next.
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The U.S.-Israeli war with Iran, a major oil producer, threatens to impact oil and natural gas markets worldwide.
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