#HormuzReopeningTalks

About HormuzReopeningTalks

Iran proposed reopening Hormuz within two days, conditional on the US lifting blockades and sanctions and releasing frozen funds. No deal has been reached. Shipping traffic remains at roughly half its prewar level. OPEC+ kept December output targets unchanged, while OPEC’s actual production is over 3M barrels a day below prewar levels. Brent last closed at $117.64. Can a compromise on sanctions and nuclear issues restore shipping and ease oil supply and price pressures?