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Story summary
- Moody's economist Mark Zandi warned President Donald Trump has a week to clinch a deal before oil prices could push U.S. economy into recession.
- Iran will halt negotiations and block the Strait of Hormuz until demands are met.
- Oil prices rose 7% on Monday, lifting Brent, U.S. crude and gasoline to $4.32 per gallon.
- Energy-research firm HFI warned a closed Strait of Hormuz could force oil inventories to a minimum.
