From Wall Street Journal:

A surge in American oil and gas production and exports is easing the impact of conflict in the Middle East, keeping the world supplied. Concerns arose when Iranian-backed Houthi militants targeted ships in the Red Sea, but oil and gas prices have dropped significantly in the past month. The conflict in the Middle East has not led to the expected hike in energy prices, with oil and gas prices falling by 5% and 23% respectively. This unexpected outcome is attributed to the American surge in production and exports.



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