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;Resize=(620)) The price for a barrel of Brent crude oil, the international standard, rose to about $79 US on Wednesday following the resumption of strikes in the Middle East. Major U.S. indexes also followed global markets on a downward trajectory.
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Attacks on ships in the Strait of Hormuz sparked a new cycle of retaliation that could throttle the flow of energy from the region.
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The price of oil surged more than 6% on Wednesday after President Donald Trump said that the ceasefire deal with Iran was "over" after the two countries trades strikes following attacks on three oil tankers near the Strait of Hormuz.
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