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The foreign policy analyst Fareed Zakaria explains how the Iran war has been a turning point in America's standing in the world.
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Energy analysts warn that the Iran ceasefire is not likely to alleviate acute signs of stress in the physical oil market.
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Higher fuel costs are raising food and travel prices, while a shaky stock market tamps down free spenders.
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Prime Minister Benjamin Netanyahu told Israelis the bombardment of Lebanon would continue, but also said his cabinet would open direct negotiations to bring about "a historic, sustainable peace."
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