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Trump predicts diesel prices in the U.S. will plunge after Iran’s defeat, but says he may suspend federal diesel tax.
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Analyst warns U.S.-Iran tensions may escalate after midterms, threatening tanker routes, Strait of Hormuz traffic and global oil prices.
Chevron and Exxon hit 52-week highs as Iran tensions drove oil above $110, raising fears of Middle East supply disruptions.
Trump may ease shadow-fleet restrictions amid soaring fuel and freight costs, as Hormuz disruptions raise oil-shipping risks.
https://www.bloomberg.com/news/articles/2026-10-20/russia-ships-the-least-oil-in-a-month-as-major-baltic-port-halts
https://www.bloomberg.com/news/articles/2026-10-20/uk-to-fly-missions-to-defend-saudi-arabia-from-houthi-attacks
– Reuters