Energy

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Food

Not just gasoline: Rising costs from Iran conflict will impact food, plastics and electronics

The Strait of Hormuz is an artery through which oil, natural gas, petrochemicals and nitrogen fertilizers flow. Just about every consumer product will be more expensive with increased costs of diesel, gasoline, fertilizers, plastics and helium, all of which require oil products. How high prices go and what the impact will be on the economy will depend on how long the conflict continues, and its eventual outcome.

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Liquefied petroleum gas tanker GAZ INTERCEPTOR, coast of Cyprus

Trump considering temporary U.S. energy shipping waivers

The president said in an early-morning network interview he would “take a look” at suspending the Jones Act for 30 days, potentially allowing foreign-flagged oil and gas tankers, which are cheaper to charter than U.S.-owned vessels, to ship gasoline, diesel, and other liquid fuels between domestic ports.