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Donald Trump has initiated an investigation into major oil companies, citing elevated gasoline prices as a concern. The move comes amid ongoing scrutiny over the impact of Middle Eastern geopolitical tensions on fuel costs.
Oil rebounded Friday as doubts grew over the viability of a US-Iran ceasefire, with talks postponed and Israeli operations in Lebanon intensifying regional tensions.
Oil prices dropped more than 2% following a US-Iran ceasefire agreement that would reopen the Strait of Hormuz and lift sanctions on Tehran's crude, signalling an imminent boost to global energy supplies.