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Oil prices surged to new highs as the ongoing Iran war and disruptions in Hormuz transit rattled global energy markets, prompting fresh diplomatic efforts to stabilize supplies and ease volatility at the pump for consumers worldwide. Meanwhile, China urged the continued presence of UN peacekeepers in Lebanon as aid organizations warned of a deepening humanitarian crisis if conflict escalates and international support wanes.

In Washington, President Trump announced sweeping new sanctions on Cuba, targeting critical sectors and further straining already tense relations as Havana condemned the measures. On the business front, reports emerged of GameStop preparing a bid to acquire eBay, a move that could dramatically reshape the landscape for both online and brick-and-mortar retailers.

Developing: Talks continue over securing oil shipments through the Strait of Hormuz as the Iran war evolves.