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Oil prices were stable as optimism grew that Iran may restart negotiations with the U.S. and Israel, easing tensions over the conflict that has disrupted the Strait of Hormuz.
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Higher inflation is leading companies to raise prices without sacrificing margins.
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Asia-Pacific markets track overnight gains in U.S. stocks on lower oil prices and hopes of a Iran-U.S. deal
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During the first 24 hours of the U.S. blockade of Iranian ports, American warships issued warnings to six vessels, prompting them to turn around.
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