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Oil prices in the US are expected to rise another five cents per gallon following US missile strikes on Iran, pushing the national average to around $3.27. Experts warn that continued conflict could send prices as high as $3.50.
The recent surge began after Israeli attacks on Iran’s nuclear sites, with Trump’s “Operation Midnight Hammer” escalating tensions. Analysts say retaliatory strikes and threats to close the Strait of Hormuz — a key oil route — are shaking global markets.
Diesel prices also jumped by 17 cents. Hundreds have died in ongoing attacks between Iran and Israel, raising fears of further instability.
Bursa Malaysia opened lower as geopolitical tensions in the Middle East dampened investor sentiment. At 9.07am, the FBM KLCI fell 13.03 points to 1,489.71, with decliners outpacing gainers 479 to 72 in a broadly negative market.
Currently, social media users are discussing the current situation. Some say this is reflecting the instability that is present on the global scale.
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