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Politics Fuel Changing Prices

June 27, 2018

Via: ENR

Washington was a key driver of second-quarter energy costs, with political actions and regulatory intervention affecting power sources from oil and coal to solar and wind.

In May, U.S. crude reached $70 per barrel—for the first time since November 2014. Among key contributing factors to the rise were fears of constrained Iran supply following President Donald Trump’s withdrawal from the Iranian nuclear weapons pact, and election uncertainties in Iraq, Lebanon and Venezuela.

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