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Stock impact report

America is the oil king of the world. So why is the Iran war sending gas prices higher? [CNN]

Mizuho Financial Group, Inc. Sponosred ADR (Japan) (MFG) 
US:NYSE Investor Relations: mizuho-fg.com/investors/index.html
Company Research Source: CNN
The United States is producing more oil than any country in the history of the planet. Yet the war with Iran has sent gas prices up 20 cents a gallon, or 7% in just a few days. Why? One way to look at it: Without all of the United States' substantial crude production, Americans could already be paying $4 or even $5 a gallon for gasoline. That makes the energy spike caused by the Iran war even more painful. And no matter how much oil the United States produces domestically, oil is traded in a global market – one that President Donald Trump just upended. The United States exports nearly a third of the oil it produces, and it imports nearly a third of the oil it consumes , according to the US Energy Information Administration. That's because the US produces a particular kind of crude that is good for making gasoline, but lousy for other petroleum products like diesel, kerosene and other fuel oils. So it needs to bring in those products or heavier crude from other locations. Th Show less Read more
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