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Oil market waits for Trump decision on Iran sanctions waiver

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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
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