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J.P. Morgan Sees Ongoing Oil Crisis
J.P. Morgan Bank has confirmed that the oil market crisis will persist due to the Iran war, as there is no clear end in sight. It warned of the repercussions of the war, with diesel prices in America continuing to rise, reaching a record high of $6.31 per gallon, while inventories have fallen to their lowest levels. Additionally, Iran targeted an offending oil tanker in the Gulf after it caught fire, as tensions between Israel and Lebanon escalate, with artillery shelling in southern Lebanon and the West Bank.
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