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This regex parses HTTP/HTTPS URLs by extracting the domain name (group 1), path (group 2), and query parameters (group 3) into separate capture groups. It handles optional 'www' prefix and validates the domain structure with a 2-6 character TLD. Useful for URL validation, web scraping, link analysis, and extracting specific URL components from text. The global and case-insensitive flags allow matching multiple URLs in a single pass.