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Oil prices tumbled more than 11% after Iran declared the Strait of Hormuz open amid a ceasefire deal with Lebanon.
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The halt to weeks of fighting is being celebrated in Lebanon, but it will be difficult to ensure it lasts.
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The pause in fighting would remove a major hindrance to the U.S.-Iran peace talks, if it holds.
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The pause in the fighting between Israeli forces and Iranian-allied Hezbollah militants may help smooth the way to a peace deal between the U.S. and Iran.
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