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U.S. has paused its three-day blockade at the Gulf of Oman, restoring safe passage for commercial ships through the Strait of Hormuz. The easing of maritime disruption is supportive for global risk assets and particularly relevant for oil and shipping markets, which had been vulnerable to a supply shock. Pre-market futures are higher on the improved geopolitical backdrop.

Analysis

U.S. has paused its three-day blockade at the Gulf of Oman, restoring safe passage for commercial ships through the Strait of Hormuz. The easing of maritime disruption is supportive for global risk assets and particularly relevant for oil and shipping markets, which had been vulnerable to a supply shock. Pre-market futures are higher on the improved geopolitical backdrop.