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May 6, 2026, 11:49 am89 ptsOil prices plunged around midday Wednesday as reports emerged that the U.S. and Iran are nearing an agreement on a one-page memorandum that could result in the reopening of the Strait of Hormuz. The international benchmark, Brent crude oil, reached $101.75 at 11 a.m. EDT while West Texas…
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