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Oil spikes surge 2% as Iran tensions rise

Iran this morning says it has arrested 17 Iranian citizens allegedly recruited by the CIA to spy on the country’s nuclear and military. Some of them have already been sentenced to death. Oil is spiking this morning, as British officials try to figure out the next steps, days after Iran seized a British-flagged oil tanker in the Strait of Hormuz. Yahoo Finance’s Myles Udland, Melody Hahm, Brian Cheung and Jared Blikre break it down.

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