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Oil Industry Braces for Years-Long Iran War

Oil producers, traders, and refiners are bracing for a prolonged war between the United States and Iran in the Persian Gulf with little to no hope of a quick resolution. By extension, they are also preparing for higher prices for longer, a theme present at this year’s edition of the Asia Pacific Petroleum Conference. Reuters’ Clyde Russell reported this week that the mood at APPEC was not particularly cheerful as…