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The War with Iran Sets Off Alarm Bells in Energy Markets

Summary by KIFI
By Matt Egan, CNN Oil prices are again worryingly high, but the most serious problem lurks just below the surface.What initially began as an oil supply crisis caused by the blockade of the Strait of Ormuz is turning into a fuel supply crisis. Refineries face a perfect combination of war and export restrictions, limiting the amount of crude that they can transform into gasoline, airplane fuel and diesel, which drive the world economy.

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KIFIKIFI
Center

The War with Iran Sets Off Alarm Bells in Energy Markets

By Matt Egan, CNN Oil prices are again worryingly high, but the most serious problem lurks just below the surface.What initially began as an oil supply crisis caused by the blockade of the Strait of Ormuz is turning into a fuel supply crisis. Refineries face a perfect combination of war and export restrictions, limiting the amount of crude that they can transform into gasoline, airplane fuel and diesel, which drive the world economy.

·Idaho Falls, United States
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KIFI broke the news in Idaho Falls, United States on Wednesday, August 19, 2026.
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