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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 agreement followed concerns that continued clashes would undermine the deal to end the war between the US and Iran.
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The deaths of teenagers Kyrees Sullivan and Harvey Evans sparked a night of violence in Cardiff in 2023.
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Clashes in Lebanon seemed to imperil the U.S.-Iran peace deal, and U.S. and Iranian officials postponed negotiations planned in Switzerland before the agreement.
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