Shipping firms cautious in Strait of Hormuz

The preliminary meeting between the United States and Iran regarding the reopening of the Strait of Hormuz has been announced. Shipping companies in Asia and Europe have indicated that resuming transit may take several weeks to ensure safety, following a nearly 5% drop in oil prices and the gathering of dozens of tankers on both sides of the strait. While a memorandum of understanding between the two sides is expected to be signed, companies are still awaiting more details about demining and maritime safety measures.

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