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Hello, this is Hui Jie writing to you from Singapore. Welcome to another edition of CNBC’s Daily Open.
Geopolitics has snapped back into focus. Tensions escalated sharply in the Middle East after Iran launched strikes against the United Arab Emirates, while the U.S. said it sank Iranian ships in the Strait of Hormuz.
These developments spooked investors and sent oil prices surging, prompting analysts to warn of another oil shock and reviving concerns of a broader economic slowdown.
