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Remarks from Iran’s foreign ministry spokesperson, Esmail Baghaei, released during the European trading session on Monday, indicate that Tehran is in no discussions with the United States (US) regarding the reopening of the Strait of Hormuz, a critical chokepoint for almost 20% of global energy supply.
Remarks
We have no talks with US currently, talks are with Oman over Strait of Hormuz.
Working with Oman on a temporary safe route through Hormuz strait.
Reaching an agreement with Oman over route is not enough for the reopening of the strait, as long as US ‘aggression’ continues situation will stay the same.
Market reaction
No immediate impact is seen in the Oil price despite the release of Iran Baghaei’s remarks. At press time, the WTI Oil price trades 7.45% lower at around $78.70.
