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Oil Declines as US, Iran Said to Explore Deal to Open Hormuz
Source: Bloomberg
Geopolitics & WarEnergy Markets & PricesTrade Policy & Supply ChainSanctions & Export Controls
US and Iranian negotiators are exploring a phased agreement under which Tehran would reopen the Strait of Hormuz and Washington would lift its blockade of Iranian ports. A deal modeled on the mid-June memorandum of understanding could materially reduce risks to oil shipments and broader trade flows through the strategic waterway, though negotiations remain preliminary.
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