Iran’s Foreign Minister Araghchi, in phone call with Russian Foreign Minister, says Hormuz safe passage is possible via guidelines

The statement from Iran's Foreign Minister about ensuring safe passage through the Hormuz Strait suggests a potential easing of tensions in a critical shipping lane. This could stabilize oil prices and impact related currencies, particularly those of energy-exporting nations. Traders should watch for how this development influences market sentiment around commodities and forex, especially the USD and JPY against oil price movements.