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Exxon Mobil CEO states that market has not yet fully priced in the impact of Iran war. Strait of Hormuz tensions suggest oil prices could rise further.
US crude oil exports have surged to record levels as Middle East supply disruptions from the Iran war benefit American producers. Tankers are flocking to the Gulf Coast to load US crude, highlighting America's growing role as a global energy supplier amid global shortages.
President Trump announced the US will not send a delegation to Pakistan for planned Iran negotiations. This move signals continued US-Iran tensions and elevated oil market volatility, with crude surging past $104 per barrel.