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Oil prices climbed on Wednesday as investors assessed the stability of a ceasefire between Iran and Israel, but held near multi-week lows on the prospect that crude oil flows would not be ...

GLOBAL OIL PRICES may continue to decline if the Middle East conflict de-escalates, an industry player said.

Crude oil prices closed about 7% lower on Monday, according to CNBC. The nationwide average for a gallon of regular gas was about $3.22 as of Tuesday, according to AAA.

Conflict in the Middle East often leads to higher energy prices, which can feed through to inflation.