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Oil Prices Surge Amid Global Turmoil | South Korea News
The President took the stage to reassure Americans as oil prices soar past $100 a barrel, driven by Middle East turmoil and attacks on key shipping lanes like the Strait of Hormuz. With global crude surging, the government is stepping in—imposing price caps, managing exports, and tapping reserves to shield consumers. They’re also cracking down on price gouging and supporting domestic refineries to keep gas pumps from spiraling. Meanwhile, Saudi Arabia’s shutdown of its vital East-West pipeline after an airstrike adds fresh fuel to fears that energy shortages could push prices even higher. The…
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