US oil prices could see another day of wild fluctuation as Iran war drags on
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US oil prices are experiencing volatility due to the ongoing US-Israel campaign against Iran, which began roughly three weeks ago. The conflict has disrupted oil and gas production, particularly after US strikes on Iran's Kharg Island and Iran's blockage of the Strait of Hormuz, a key oil transit route. Consequently, analysts predict the national average gasoline price could rise to $3.85 per gallon, with diesel potentially exceeding $5.00. Some regions, like California, are already seeing prices above $5.00. The fluctuating oil prices are impacting Wall Street, with oil company executives warning the White House about potential further price increases due to supply issues and speculation.
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