Iran's ambassador to China says that passage through the Strait of Hormuz will be controlled, but the Strait will not be closed

Iran's statement about controlling passage through the Strait of Hormuz without closing it suggests a careful approach to regional tensions, which may avert immediate disruptions in oil supply. While it indicates a maintained flow of energy, traders should monitor for any shifts in military movements or political rhetoric that could impact market sentiment and prices, particularly for WTI and related commodities.