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The ceasefire signed last month came under serious strain in recent days as U.S. and Iranian forces exchanged attacks for consecutive days this week.
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President Donald Trump announced "major combat operations" against Iran on Feb. 28, with massive joint U.S.-Israeli strikes.
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U.S. forces hit more than 170 targets, including air defense systems, drone and missile storage sites, and military speedboats.
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Companies desperately want to get their ships moving through the Strait of Hormuz, but face mounting risks. "Things are becoming uglier by the minute," one executive said.
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The officials said that Iranian negotiators blamed the recent ship attacks on rogue military units.
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The U.S. and Iran's contradictory interperations of the memorandum of understanding have led to renewed fighting over the Strait of Hormuz.
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Renewed escalation in the U.S.-Iran war could complicate matters and further cloud the outlook, the IEA warned Friday.
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Iran's military said it fired missiles at a Jordanian air base used by American forces. Jordan said it had intercepted missiles entering its air space.
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The United States and Iran traded new attacks overnight into Thursday, intensifying an exchange that has threatened the collapse of their agreement to end the war.
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Oil prices turned lower on Thursday after the U.S. carried out fresh strikes on Iran, renewing concerns about supply disruptions in the Middle East.
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A wave of U.S. attacks were followed by Iranian strikes, halting ship traffic in the Strait of Hormuz again. Oil prices rose sharply.
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The U.S. and Iran have agreed to open the critical waterway that has rattled the global economy and enter into a 60-day ceasefire. The accord brings relief, but the thorniest issues at the root of the conflict remain to be resolved.
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