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For decades, OPEC influenced the market by how much oil it produced. But China, the largest importer, is demonstrating its remarkable power over prices.
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The week is kicking off with fresh spikes for oil prices after President Donald Trump reimposed the naval blockage on the Strait of Hormuz.
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Oil prices rise following the latest fighting in the Middle East, as AI stocks sink AP NewsOil prices rise as U.S. and Iran contest control of Strait of Hormuz with fresh strikes CNBCTrump's time is running out to avoid a nightmare Strait of Hormuz scenario FortuneOil Prices Surge After Iran and U.S. Trade Strikes The New York Times
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Oil jumps as US-Iran hostilities escalate and investors go into ‘risk-off' mode
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Shipping activity plummeted after Iran attacked a ship, setting off U.S. strikes. Little crude oil is being transported through the critical waterway.
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Producer price index rises for fourth straight month as Strait of Hormuz closure roils supply chains
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