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Live Updates: Trump calls NATO allies "cowards" amid Iran war as more Marines and warships head toward Middle East CBS NewsLive updates: Oil rises to $110 as Israel strikes Iran during Persian new year CNN‘Cowards': Trump slams NATO over lack of support in US-Israel war on Iran Al JazeeraSeven U.S. a
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Oil prices moved higher Friday, with global benchmark Brent crude on track to tally a fifth-straight weekly gain, after the Pentagon said it is sending more troops and warships to the Middle East — the latest sign of escalation in the conflict that started nearly three weeks ago.
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Higher oil prices resulting from the U.S.-Israeli war in Iran are dashing hopes for any interest-rate cut by the Federal Reserve this year and even leading to growing chances of a rate hike.
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If oil prices stay high for months, they could bleed through to other prices, Fed governor Christopher Waller said Friday.
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The pressure on Trump to deescalate in the Middle East is building. Markets need to be convinced oil is back below $100 forgood before they can rally concertedly.
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Stocks slip, head for fourth-straight losing week as Iran conflict continues: Live updates CNBCStock market today: Dow, S&P 500, Nasdaq futures retreat as oil swings amid Iran war jitters Yahoo FinanceU.S. stocks fall as hopes wither for a cut to interest rates by the Federal Reserve this year Pittsburgh Post-GazetteWall Street slips as Middle East turmoil clouds Fed outlook The Detroit News
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Agency's head Fatih Birol says recovery of oil and gasfields in Gulf region could take more than six months
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Work from home, drive slower and don't use gas cookers: IEA advice on weathering the global energy crisis CNBCPeople urged to work from home in global oil crisis The TelegraphNew IEA report highlights options to ease oil price pressures on consumers in response to Middle East supply disruptions IEA - International Energy AgencyWork From Home, Carpool and Fly Less to Combat Soari
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From waiving the Jones Act to rerouting oil through the Red Sea, governments are doing their best to make up for the crisis in the Strait of Hormuz, but prices are still rising.
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As the broader war in the Middle East begins its third week, worries over the fallout of crippled energy supplies continue to roil markets.
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