German energy dominates the market, while the US government's $4 billion oil and gas extraction rights auction hits a record high
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This auction's total amount has completely shattered all previous records for onshore government oil and gas auctions. Currently, the Iran war has tightened global supply, further boosting market demand for US crude oil. The previous highest single auction record for government oil and gas extraction rights was set in 2018 at $972 million.
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