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Shares advance, oil prices settle sharply lower as markets shrug off Iran conflict ReutersView Full Coverage on Google News
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Tanker operators in the Strait of Hormuz are facing higher shipping and insurance costs, despite a drop in oil prices, as investors wait to see what happens to the world's most important crude chokepoint after the U.S. bombing of Iran's nuclear sites.
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Hope for a de-escalation in the conflict was most evident in the energy market, where oil prices fell more than 7 percent.
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President Trump, aware of how high gas prices could affect his popularity, demanded on social media that the U.S. "KEEP OIL PRICES DOWN."
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