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How can the instablity in the Middle Eastern countries like Iraq cause oil prices to go up in the US?
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29 votes
29 votes
How can the instablity in the Middle Eastern countries like Iraq

cause oil prices to go up in the US?

User Jmazin
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1 Answer

11 votes
11 votes

Answer:

On Aug. 2, 1990, Saddam Hussein launched the Iraqi invasion of Kuwait, starting the Gulf War. This led to lower oil production, causing a spike in crude oil prices. After the Gulf War, crude oil prices steadily declined, reaching their lowest level since 1973 in 1994.

Step-by-step explanation:

User Nick Ribal
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