Erdoğan: We prioritize reopening the Strait of Hormuz because its continued closure is not in anyone's interest.

Turkish President Erdoğan stated a priority to reopen the Strait of Hormuz, asserting its continued closure serves no one's interests. This statement signals a potential de-escalation of regional tensions, impacting oil supply routes and geopolitical risk premiums. Energy markets, particularly crude oil futures and related equities, are most exposed due to the Strait's critical role in global oil transit. Traders will monitor any concrete diplomatic actions or shifts in regional military posture following this declaration.

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