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Oil prices surged past $100 a barrel this week as the U.S.-Israeli war against Iran threatens global energy supplies and the broader economy. Iranian officials say no oil will be allowed to leave the Middle East until the bombardment stops, raising fears of disruptions in the Strait of Hormuz, the waterway through which about 20% of the world's oil and gas flows. This comes as Israel has struck oil depots in Tehran, blanketing the capital in smoke and toxic rain.
"What we're seeing is just one of the clearest depictions yet of the frailty of a global order that is grounded in fossil fuels. All sides in this war are using fossil fuels as a weapon of war," says independent investigative journalist Antonia Juhasz, who reports on energy and climate.
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(First column, 1st story, link)
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Higher oil prices have intensified some Republicans' warnings about the political risks of a long conflict as President Trump sends conflicting messages about the administration's plans.
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