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Energy Agency urges Hormuz reopening
An International Energy Agency report revealed that the ceasefire agreement between the United States and Iran led to the reopening of the Strait of Hormuz without conditions, contributing to stability in global oil markets. The Agency’s Executive Director confirmed that the resumption of oil flow through the strait might take some time, but the commitment of all parties not to shut it again boosts market confidence, which has seen price declines since the agreement was signed.
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