Diamondback Energy Inc

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Crude Bottleneck Extends, but Geopolitical Premium Flaring; Brent Oil Will Likely Test $120

Over the March 14-15 weekend, the US conducted large-scale strikes on Kharg Island, according to NBC News. The island houses Iran's critical crude export terminal, which ships over 90% of Iran's crude exports. We understand that the strikes focused on military targets and avoided oil infrastructure.

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