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Story summary
- U.S. President Donald Trump canceled a diplomatic meeting with Iranian Foreign Minister Abbas Araghchi, leading Wall Street traders to label him “NACHO”.
- After Iran shut the Strait of Hormuz on Feb. 28, halting a waterway that carries about one-fifth of global oil, U.S. gas prices rose to a record $4.23 a gallon nationwide.
- Trump convened a White House meeting with top oil and gas executives to discuss the war’s energy fallout.
