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The U.S. appears close to reaching an agreement that would end the war with Iran and reopen the strategic Strait of Hormuz, according to reports Sunday, sending oil prices sharply lower.
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Consumer sentiment has tumbled to a fresh record low in May as fears of higher prices grow due to the U.S.-Iran war and elevated oil prices.
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The United States and Europe were at odds over the Trump administration's decision to ease oil sanctions on Russia.
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