Why the price of oil matters more than you might think
Government
The impact of the US and Israel's war in Iran is starting to hit home - no matter where you live. As the conflict blocks oil exports from the Gulf region, and producers start to cut output, the supply shock has sent oil soaring toward $85 per barrel, rattling financial markets, driving up prices at the pump and raising fears of a bigger economic hit. The war has been an unwelcome reminder of the world's ongoing dependence on the Middle East for energy supplies, recalling supply shocks that hit
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