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Aussie Daily

Energy firms reap windfall as conflict fuels oil price surge

August 4, 20261 Mins read5 Views
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NEW YORK CITY, NEW YORK: Major U.S. oil companies reported soaring second-quarter profits as months of conflict involving Iran disrupted global energy supplies, pushed crude prices above $100 a barrel for much of the quarter and drove up fuel costs for consumers worldwide.

The fighting, now in its sixth month, has severely reduced shipping through the Strait of Hormuz, a key route that previously carried about o

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