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California gas prices hit $6 per gallon as fuel costs jump nearly 30 cents in a week across the U.S.

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Fuel costs are rising after it gas became clear that Iran is not reopening the Strait of Hormuz, one of the most important oil export corridors in the world.

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Iran’s new supreme leader gave a rare statement on Thursday, vowing not to give up the country’s nuclear or missile technologies and signaling Tehran would keep control of the Strait of Hormuz. Natasha Hall, Associate Fellow at Chatham House joins to discuss on Balance of Power. (Source: Bloomberg)

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