A U.S. official has reiterated that the Strait of Hormuz is an international waterway, emphasizing that no single party controls its lanes and that transit routes will remain open without interference. This statement comes amid ongoing U.S.-Iran tensions over control and access to this vital maritime passage. The Strait of Hormuz is a crucial energy and shipping corridor governed by the law of the sea. Market participants view this development as potentially increasing the likelihood of a U.S.-Iran agreement by August 15.
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