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President Trump's Tuesday evening deadline for a deal approached after he rejected a cease-fire proposal as "not good enough."
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Trump threatens new rampage as Iran deal deadline nears The Washington PostIran War Live Updates: As Strait Deadline Looms, Trump Repeats Threats of Infrastructure Attacks in News Conference The New York TimesOil prices extend gains as Trump reaffirms Tuesday deadline for bombarding Iran's power plants, bridges CNBCTrump Says He's Calling Iran's Bluff in Eight-Minute Interview With WSJ WSJ
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Before the U.S and Israel began their war against Iran, about 20% of the world's oil was shipped through the narrow Strait of Hormuz.
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The Strait of Hormuz saw an uptick in traffic over the weekend, as a looming U.S. deadline for Iran to reopen the key waterway kept markets on edge.
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The largest part of the economy grew a bit slower in March as the Iran war drove up oil and other prices and companies responded by reducing employment, suggesting a rockier path for the economy until the conflict ends.
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