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Story summary
- President Donald Trump weighed resuming large-scale military operations against Iran, pushing oil prices higher.
- Brent crude rose over 5% to above $105 per barrel while U.S. crude hit about $93.
- Gulf of Mexico producers shut in about 510,000 barrels per day—roughly 25% of U.S. output—due to Storm Isaias.
- Hiring a very large crude carrier to ship U.S. oil to Asia now costs $77 million, up from $9.2 million last year.