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Crude oil paused its rally to settle around $100 a barrel on Friday after Iranian state media said Tehran would meet Gulf states in Oman to discuss the Strait of Hormuz. Gulf Cooperation Council diplomats are expected to meet their Iranian counterpart on Monday to discuss a possible temporary arrangement for managing s
By Evie LiuSaudi Arabia has shut down a critical pipeline used to bypass the Strait of Hormuz, adding another threat to already strained Middle Eastern crude supplies.Saudi Arabia halted operations on its East-West pipeline as a precaution after multiple attacks on the system, according to the king…