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Trump’s big oil crackdown ‘sounds like political theater’, says expert

President Trump has ordered the DOJ to investigate oil companies over claims they are too slow to lower gas prices despite falling crude costs. Karen Young, senior research scholar at Columbia University’s Center on Global Energy Policy, called the move “political theater,” saying that’s “not really how gasoline prices work” in the U.S.

News and Publications with Karen E. Young • CNBC • June 24, 2026

Oil extends decline as Trump accuses oil firms of ‘gouging’ consumers

Oil extended losses during Asian trading hours on Wednesday as concerns over potential supply disruptions eased, while investors monitored developments in the Strait of Hormuz. International benchmark Brent crude futures for August fell 0.91% to $76.38 a barrel. U.S. West Texas Intermediate futures for August dropped 0.94% to $72.52 per barrel. U.S. President Donald Trump on Wednesday criticized oil companies for not lowering […]

News and Publications with Karen E. Young • CNBC Africa • June 24, 2026
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