Oil Rises as Traders Await Formal Deal to Reopen Strait of Hormuz
Hyperdash NewsCommoditiesOil prices are little changed as traders await a formal agreement to reopen the Strait of Hormuz. This follows earlier reports of declining oil prices driven by optimism surrounding the strait's potential reopening. A formal deal would impact global oil supply and prices.
Treasury Secretary Scott Bessent indicated a deal could be reached this week to reopen the strait. The emerging agreement may involve ships entering the Persian Gulf via an Iranian-controlled route and exiting through an Omani-controlled route, with service fees. Traders on Hyperdash have taken 
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