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Oil prices fell, moving closer to levels not seen since the war in Iran began in February.
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Increased stockpiles, more pipelines and other tactics could loosen the waterway's stranglehold on the global economy.
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The personal consumption expenditures price index was expected to show a 4.1% annual increase.
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Oil price back at prewar levels as Gulf flows pick up Financial TimesLive updates: Global oil prices fall to lowest level since before the US-Iran war CNNOil price falls to levels not seen since before Iran war BBCOil prices erase wartime gains as supply concerns ease with Hormuz tanker traffic resuming CNBCOil Prices Drop on Moves to Unblock Persian G
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