A fragile deal with Iran has provided temporary relief to oil markets, but geopolitical risks in the Strait of Hormuz persist. This was reported by Qazaqyia.kz citing Reuters.
The agreement has helped stabilize oil prices, but analysts question its long-term durability. The Strait of Hormuz remains a critical chokepoint, through which about 20% of global oil supplies pass. Any tensions could lead to significant disruptions in oil markets.