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“It’s a good time to be an oil company.”

“Rising gas prices drove much of the inflation increase as renewed violence in the Middle East has kept oil prices above $100 a barrel, up from below $70 before the Iran war.”

“But experts fear that the situation could get worse within days, as speculation mounts that Donald Trump is planning new bombing raids on Iran after next week's midterm elections in the US, which would drive oil prices higher still.”

“Though crude flows out of the region have risen to near prewar levels, prices remain elevated as investors expect further disruption to supplies: One leading commentator warned that the oil market “should brace for a forever stalemate in Iran,” while the head…”

“European gas prices have jumped to levels not seen since 2022 as fears continue to grow around the continent’s supply this winter and ongoing conflict in the Middle East.”