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Renewed conflict with Iran is driving oil and gas prices sharply higher, adding fresh pressure on the U.S. economy. The escalation comes as President Trump imposes new global tariffs, which could further stoke inflation and dampen consumer spending. The combination of geopolitical instability and trade policy uncertainty is creating a volatile environment for risk assets, with energy stocks seeing mixed reactions while broader markets brace for potential headwinds. Traders are closely watching crude oil futures, which have surged on supply disruption fears, and assessing the knock-on effects on inflation expectations and Federal Reserve policy. The situation remains fluid, with intraday speculative trading likely to be influenced by any diplomatic developments or additional tariff announcements.
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