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S&P 500 closes at a fresh record as stocks catch a tailwind from falling oil prices: Live updates CNBCStock market today: S&P 500, Nasdaq, Dow rise as oil slides, wave of solid earnings rolls in Yahoo FinanceS&P 500, Nasdaq close at record highs as U.S.-Iran tensions cool, oil prices dip Investing.comThe Macro Situation Is Collapsing—Stock Market Still Defiant Seeking Alpha
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If the U.S. succeeds in shepherding more vesses out of the strait safely, hundreds of ships still stuck on either side of the strait, including massive oil tankers, would find their way to markets, taking off some of the pressure that has led global crude prices rise more than 50%.
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China told its independent refineries to disregard U.S. sanctions over their purchases of Iranian crude.
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Soaring energy prices are expected to impact China's economy less than most other countries, due to its massive oil reserves and alternative energy sources.
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