The Trump administration held its third offshore lease sale for oil and gas drilling in the Gulf of America, drawing weaker bidding and less than a third of the revenue generated from the first auction last year.

The auction came at a crucial time for the administration as it faces growing pressure ahead of the midterm elections over soaring oil and gasoline prices, which have been driven up by the war in Iran. President Donald Trump had long called for increased domestic drilling before the war and has moved to remove regulatory hurdles for majors to increase U.S. supplies and exports.

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