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Oil prices rise sharply on Middle East supply disruption risk

Oil prices increased significantly as concerns grew that conflict or instability in the Middle East could disrupt supplies.

By DoomRadar · Published on DoomRadar .

Why it matters

A prolonged supply disruption could raise energy costs and intensify inflation and economic pressure internationally.

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Diesel and gasoline prices have risen sharply in several U.S. locations, with reports of diesel reaching $8.06 per gallon in Bakersfield and $6.37 in Pennsylvania. The increases are linked to Middle East supply disruptions and tensions.

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