Deputy Commander of the Iranian Army Central Command said Iran has not closed the Strait of Hormuz; Iran is currently handling ships passing through the Strait in accordance with relevant international rules and existing agreements, CCTV reports
Context
The Deputy Commander of the Iranian Army Central Command stating that Iran hasn't closed the Strait of Hormuz serves to ease immediate concerns about potential disruptions in a critical shipping route for oil. This reassurance likely stabilizes sentiment around oil prices and thus the broader commodities market, but traders should monitor for further developments that could shift the current status quo.
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