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Commodities

Crude Oil Futures Edge Up as Strait of Hormuz Deal Stalls

Guavy AI Editorial Team
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Oil
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Crude oil futures inched up on Thursday as investors awaited confirmation on a deal to reopen the Strait of Hormuz, allowing commercial shipping to pass through.

The proposed agreement between the US, Iran, and Oman aims to restore a ceasefire and secure the vital waterway, which has been a point of contention in recent months.

Despite some progress towards an interim deal, no confirmation on its success has yet been announced, leaving investors uncertain about the market's direction.

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