EU's Kallas says a model similar to the Black Sea could be used in the Strait of Hormuz but the question is what neighbouring countries, including Iran, could agree on; the door is not closed on the participation in the Strait

This headline indicates potential diplomatic efforts to mediate security in the Strait of Hormuz, akin to the model used in the Black Sea. The involvement of neighboring countries, especially Iran, is crucial for any agreement, and this progress could lead to improved energy security in the region, potentially influencing oil prices and market sentiment towards WTI.