Summary

Oil prices spiked again on Wednesday after U.S. President Donald Trump declared that the ceasefire deal with Iran is over and vowed to strike Iran again, effectively ending the tentative peace deal barely a month after signing. Iran struck three commercial vessels in the Strait of Hormuz on Tuesday that were using an alternative route near Oman's coast rather than the northern corridor controlled by Tehran, prompting retaliatory attacks by the United States.

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