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Shares of integrated oil and gas companies are trading higher amid energy price gains due to concerns that the U.S. and Iran aren't making meaningful headway in negotiations to reopen the Strait of Hormuz peacefully and without transit fees.
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Shares of oil and gas related-companies are lower following reports suggesting that Saudi Arabia is attempting to restore crude oil exports quickly through pipeline repairs and ship-to-ship transfers. Also, API and EIA data indicated weekly U.S. crude and distillate inventory growth, further pressuring the oil price.
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