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Iran is about to pitch a new plan to end tensions and reopen the crucial Strait of Hormuz, which could be a big deal for shipping routes.
Meanwhile, the US just slapped sanctions on some Chinese companies tied to Iran, making things tense with China too.
On top of that, the United Arab Emirates (UAE) has decided to leave OPEC next month so it can respond faster to market shortages, another twist in this ongoing energy drama.