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Surging oil prices could wipe out benefits from Trump’s ‘big beautiful bill’
Key Points Raymond James estimates that what consumers pay in higher gas prices could total exactly what they’re set to gain with the tax changes under President Donald Trump’s “big beautiful bill.” The stimulus was expected to boost both the U.S. economy and markets in 2026. While consumers may not get as much of a […]
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As Iran war disrupts oil prices, consumers could be ‘hammered,’ economist says
In February, Americans were feeling pretty good about their financial standing. But that was before the Iran war, which is threatening to upend household budgets. A New York Federal Reserve survey released Monday found that consumers expected inflation to be lower in the year ahead, and households, overall, said they were better off than a year ago. The New York […]
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Iran defends strikes on Gulf neighbors. They say a ‘huge trust gap’ will last for decades
Foreign workers look at a tall plume of black smoke ascends following an explosion in the Fujairah industrial zone on March 3, 2026. Fadel Senna | Afp | Getty Images Iran has defended its strikes against its Gulf neighbors, telling CNBC that U.S. military assets located in surrounding territories were “legitimate” targets in its fight […]
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As the Iran war upends energy flows, Russia is emerging as the real winner
General view of Orsknefteorgsintez oil refinery in the city of Orsk, Orenburg region, Russia Aug. 28, 2025. Stringer | Reuters Russia is shaping up to be a major beneficiary of the war between U.S.-Israel and Iran, as higher oil prices and temporary sanctions relief boost the value and volume of its crude exports, analysts told […]
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Iran war threatens catastrophic consequences for the oil market, Aramco CEO says
The logo of Saudi state oil giant Aramco. Fayez Nureldine | AFP | Getty Images The Iran war threatens “catastrophic consequences” for the global oil market, the CEO of Saudi oil giant Aramco has warned. Amin Nasser told an earnings call on Tuesday that the war had caused “a severe chain reaction” and “a drastic […]
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China’s nudge, a U.S. permission, an Iranian rapprochement — India’s balancing act on an economic thread
Indian social and women’s rights activist, educationist, Syeda Saiyidain Hameed during the Iran Embassy opens condolence book on the martyrdom of Iran’s Supreme Leader Ali Khamenei at the Embassy of the Islamic Republic of Iran, on March 5, 2026 in New Delhi, India. Hindustan Times | Hindustan Times | Getty Images India faces a difficult […]
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European markets head for positive open as oil prices slide
Galaxy Globe bulk carrier and Luojiashan tanker sit anchored in Muscat, as Iran vows to close the Strait of Hormuz, amid the U.S.-Israeli conflict with Iran, in Muscat, Oman, March 9, 2026. Benoit Tessier | Reuters LONDON — European stocks look set to open notably higher on Tuesday, as traders watch developments in the Middle […]
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Oil plunges 10% as Trump warns to hit Iran ‘twenty times harder’ if it blockades Strait of Hormuz
Oil prices surged about 20% on Monday as the U.S.-Israeli war with Iran continued, raising fears of prolonged disruptions to energy supplies. Anton Petrus | Moment | Getty Images Oil prices plunged 10% Tuesday after U.S. President Donald Trump warned that Tehran would be hit “twenty times harder” if it attempted to halt oil flows through the […]
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South Korea’s Kospi leads regional rebound, up 5%, as Trump comments drive oil lower
A currency dealer monitors exchange rates in front of a big screen showing South Korea’s benchmark stock index (C) and the Korean won/USD exchange rate (R) in a foreign exchange dealing room at the Hana Bank headquarters in Seoul on April 9, 2025. Jung Yeon-je | Afp | Getty Images South Korea’s Kospi opened more […]
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Top permitting-reform Republican, Democratic senators meeting as talks thaw: API chief
U.S. Sen. Shelley Moore Capito (R-WV) speaks to the media following the weekly policy luncheons at the U.S. Capitol on June 21, 2023 in Washington, DC. Kevin Dietsch | Getty Images Senate Environment and Public Works Committee Chair Shelley Moore Capito and ranking Democrat Sheldon Whitehouse are meeting to discuss reforming the federal energy permitting […]
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