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President Donald Trump announced "major combat operations" against Iran on Feb. 28, with massive joint U.S.-Israeli strikes.
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With immediate supply fears fading and tanker traffic returning to the Strait of Hormuz, traders are turning their attention back to oil demand and OPEC's outlook for the market.
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The first peace talks between the United States and Iran were postponed Friday, as Vice President JD Vance cancelled his planned travel to Switzerland and intense new Israeli strikes in Lebanon cast doubts on the deal to end the war.
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