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Rabobank reports that a 60-day US-Iran memorandum of understanding has reduced immediate global economic risks by maintaining the Strait of Hormuz open, though ship traffic remains restricted. The agreement aims to prevent escalations in the strategically vital waterway, which handles nearly 20% of global oil exports. However, shipping companies continue to face logistical challenges and potential fees for transiting the strait. This development is critical for oil markets, as any disruption in the region could trigger sharp price volatility. Traders should monitor the duration of the agreement and its impact on shipping costs, which may indirectly influence crude oil prices. The situation highlights the delicate balance between geopolitical stability and market dynamics in energy sectors, with Gulf economies particularly vulnerable to regional tensions.
