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Oil prices turned sharply lower on Tuesday after a Qatari official talked about a potential short-term deal between the U.S. and Iran.
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Higher oil prices propelled a quarterly earnings jump for Saudi Arabia's energy giant, which used pipelines to work around disruptions in the Strait of Hormuz.
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Oil prices declined sharply on Monday as hopes rose among investors of a potential de-escalation in the war between the U.S. and Iran.
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