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Dow Slips, Oil Rises on Fears of Hormuz Escalation — Live Updates

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Stock Market Today: Dow Slips, Oil Rises on Fears of Hormuz Escalation — Live Updates

Investors are on edge today, sending oil prices sharply higher as military tensions flared in the Strait of Hormuz.

Several vessels were struck around the strait amid Iranian threats, while the U.S. sent in destroyers and fought off further attacks, The Wall Street Journal reported Monday.

The skirmishing came hours after President Trump announced a new initiative to get ships that have been bottled up in the Persian Gulf out through the crucial waterway. The American military said it successfully guided two U.S.-flagged commercial ships through the strait.

Not Even Japanese Bathhouses Are Immune From Shocks of Iran War – The New York Times

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Not Even Japanese Bathhouses Are Immune From Shocks of Iran War – The New York Times

In the mid-20th century, most sento switched from firewood to gas and oil boilers. In Tokyo, bathhouses tend to use city gas, but for regional sento, oil is the standard. Since the war began nine weeks ago, oil prices have surged, driving up costs by as much as 50 percent for bathhouse owners, according to the Japan National Sento Association.

Operators face unique limitations in passing on higher costs to their customers. Historically, these bathhouses were designated as essential infrastructure for people without private baths. Because of this legacy, sento are still classified as public welfare services, with prefectural governments capping entry fees at roughly 500 yen, or about $3.

Oil Prices Hit a New Wartime High as Iran Standoff Shows No End in Sight – The New York Times

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Oil Prices Hit a New Wartime High as Iran Standoff Shows No End in Sight – The New York Times

Oil prices hit a fresh wartime high on Thursday, surging above $120 a barrel before pulling back in volatile trading on concerns that the war in Iran could escalate, leading to a longer disruption of fuel supplies from the Middle East.

President Trump maintained his stance that the naval blockade of Iran’s ports would persist until Tehran gives up its nuclear program. His remarks to Axios on Wednesday suggested that the standoff over the Strait of Hormuz, the vital trading route for oil and natural gas supplies, was not nearing a resolution.

The average price of regular gasoline in the United States has followed oil higher, hitting $4.30 a gallon on Thursday, up 27 cents in a week, according to data from the AAA motor club.
Map: Severence Hill Trail