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The pace of the recovery will depend on how confident companies are that the deal between the United States and Iran will hold and be extended.
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The deal is a major breakthrough in the conflict that set the Middle East aflame and shook the global economy. However, it did not resolve critical issues set aside for further negotiations.
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Under the agreement, the key Strait of Hormuz waterway will be reopened, US President Donald Trump said.
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Energy prices tumbled and stocks jumped Monday — but only moderately — after the U.S. and Iran said they had reached a deal to reopen the Strait of Hormuz.
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