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Iran conflict drains U.S. oil reserves
A report has indicated that President Donald Trump's war against Iran has led to U.S. oil inventories reaching their lowest levels since 2004, with inventories declining by 10.6 million barrels last week to reach 1.57 billion barrels. This decrease has caused oil prices to rise, surging to $96.17 per barrel, amid warnings of a potential increase to $200 during the summer if the Strait of Hormuz remains closed. Additionally, the reduction in inventories and ongoing conflict have put significant pressure on global oil supplies and increased tensions in international markets.
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