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Commodities

Crude Futures Plateau as Strait of Hormuz Deal Looms

Guavy AI Editorial Team
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Oil
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Crude oil futures have plateaued at lower levels this week as investors await confirmation on a potential deal to reopen the Strait of Hormuz.

The Strait, which connects the Persian Gulf to the open ocean, has been a major point of contention between the US and Iran in recent months.

An interim agreement is reportedly close to being finalized by the US, Iran, and Oman, with the aim of restoring a ceasefire and allowing commercial shipping through the Strait.

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