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Stocks swung violently Tuesday as investors tried again to assess the potential impact of the escalating military strife in the Middle East, sparked by U.S. and Israeli strikes that resulted in the killing of Iran's Supreme Leader Ali Khamenei over the weekend.
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Oil briefly hit $85 a barrel as Iraqi production shuts down because so few tankers risk journey through Strait of Hormuz
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Qatar carries out retaliation strikes in Iran, sources say The Jerusalem PostQatar downs two Iranian fighter jets as conflict widens Al JazeeraIranian missile hits US base at Al-Udeid, no casualties — Qatari Defense Ministry The Times of IsraelIran war live: New Israeli and US barrage hits Tehran as Trump rejects talks Middle East Eye
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Polymarket users placed hundreds of bets of at least $1,000 predicting an imminent American strike, raising concerns about insider trading.
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Dow closes down 400 points after falling as much as 1,200 points as Iran conflict volatility continues: Live updates CNBCStocks recoup some losses but close lower as Middle East conflict stirs up volatility CNNWall Street recovers from war jitters Boston HeraldHow the Middle East Conflict Is Reshaping Market Bets, in Charts WSJ
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New production from Texas will take months as drillers use windfall from price rise to pay investors
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A prolonged conflict in the Middle East could push prices even higher, as the busy driving season approaches.
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