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The Guardian - UK
The Guardian - UK
World
Tom Knowles

Stock market falls resume as US-Israel war with Iran drives up oil and gas prices

Oil tankers sailing through the Strait of Hormuz
Oil tankers in the Strait of Hormuz, off the coast of Iran. About a fifth of global oil supplies pass through the strait and it has been in effect closed since the weekend. Photograph: Amr Alfiky/Reuters

A market sell-off resumed on both sides of the Atlantic on Thursday as fears mounted that there would be no quick resolution to the conflict in the Middle East.

Early gains in European markets, which had followed a rebound in Asia, were wiped out in later trading and Wall Street was also trading sharply lower by early afternoon in New York.

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