OIL MARKET ON EDGE AS IRAN STALLS Iran has yet to respond to a US plan to end 10 weeks of war and reopen the Strait of Hormuz, keeping global oil markets under pressure.

Iran's delay in responding to a U.S. plan aimed at resolving the ongoing conflict and reopening the Strait of Hormuz is contributing to heightened uncertainty in global oil markets. This situation affects the supply disruption channel, as the Strait of Hormuz is a critical passage for oil shipments, and any prolonged conflict could exacerbate supply constraints. Crude oil prices are particularly sensitive to developments in this region, given its significance in global energy supply. Traders will be closely watching for any announcements from Iran or the U.S. regarding negotiations or potential resolutions, as these could significantly impact market sentiment and pricing dynamics.

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