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Oil prices sink and stocks leap worldwide on hopes for a reopening of the Strait of Hormuz

NEW YORK (AP) — Oil prices sank Wednesday, and stock markets rallied worldwide with hopes that the United States and Iran are nearing a deal to allow ships to deliver crude from the Persian Gulf once again to their customers. The price for a barrel of Brent crude oil, the international standard, fell 7. 8% to $101. 27, down from more than $115 early this week. It dropped as President Donald Trump said the Strait of Hormuz could be “OPEN TO ALL” if Iran accepts a reported agreement that...

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