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The agencies are studying how Iran would likely respond if U.S. President Donald Trump were to declare a unilateral victory in the two-month-old war that has killed thousands and become a political liability for the White House, two U.S. officials and a person familiar with the matter ?said.
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The group of oil-producing countries supplied more than 25 percent of the world's oil before the war in Iran. Its members have influenced energy markets through the years.
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The United Arab Emirates' decision to leave OPEC has rocked the region, underscoring how the country, at odds with Saudi Arabia, is increasingly charting its own course.
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The departure weakens the Organization of the Petroleum Exporting Countries, long criticized by Trump, as the global economy reels from the Iran war energy shock.
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Several warning lights are flashing that have some wondering whether we are in the foothills of another financial crisis.
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Negotiations to end the war appear to have hit an impasse over Iran's nuclear future. Without a deal in place, the Strait of Hormuz remains mostly shut.
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European shares closed lower on Tuesday as investors assessed the latest developments in the Iran war and a flurry of corporate earnings reports.
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Two months after the U.S.-Israeli attack on Iran started the war, peace talks are on hold, with control of the Strait of Hormuz and the future of Iran's nuclear program as the two main points of contention.
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