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US President Donald Trump has initiated an investigation into major oil companies over persistent high gasoline prices, amid mounting pressure over geopolitical tensions in the Middle East.
Oil prices gained Friday following the collapse of US-Iran peace negotiations in Switzerland, with geopolitical tensions in Lebanon complicating a fragile interim agreement aimed at stabilizing global energy markets.
Oil prices fell more than 2% following a US-Iran ceasefire agreement that would reopen the Strait of Hormuz and lift sanctions on Iranian crude, signalling a potential oversupply next year.