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China and its neighbors scrambled to soften the blow of a disorderly trade war. Conflict in the Middle East now threatens to disrupt the oil imports that power their economies.
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Investors leaned onto U.S. energy stocks on Monday, with the widening conflict in the Middle East boosting shares of major U.S. exploration and production and integrated-energy companies, in particular Chevron.
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Mortgage rates moved decidedly higher Monday, as the U.S. war with Iran pushed oil prices up and Treasury yields followed.
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Global oil prices are in the high $70s as traffic through Strait of Hormuz comes to a halt. Some analysts have warned they could top $100 a barrel if the stoppage is prolonged.
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