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Oil prices could skyrocket in the US if Iran employs 'scorched earth' strategy in response to strikes![]() Oil prices could skyrocket in the US if Iran employs 'scorched earth' strategy in response to strikes The price of oil is up only modestly and stocks are mostly lower in early U.S. trading as investors wait to see if Iran will launch further attacks after U.S. forces killed a top Iranian general last week The US's bunker-busting involvement in Israel's conflict with Iran is having a minimal impact on global oil prices and stock markets, at least for the time being. The hope is that Iran will not retaliate in a way that disrupts the worldwide flow of crude oil, which would harm global economies as well as its own. This morning, U.S. President Donald Trump tweeted a 'threat,' about Iran: "EVERYONE, KEEP OIL PRICES DOWN. I’M WATCHING! YOU’RE PLAYING RIGHT INTO THE HANDS OF THE ENEMY. DON’T DO IT!" Article continues below The S&P 500 was slightly down by 0.1% in early trading, following a week of fluctuating stock prices due to concerns about the potential escalation of the conflict. Oil prices increased 4% shortly after trading began on Sunday night, but they quickly leveled off as attention shifted from the actions of the US military to potential reactions from Iran. As of 9:35 a.m. Eastern time, the Dow Jones Industrial Average
BREAKING: Senator hauled away from Noem's press conference after fiery confrontation |
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