Oil prices dipped as investors considered a potential agreement to reopen the Strait of Hormuz, following reports that the US, Iran, and Oman are close to a temporary deal (arynews.tv). The deal would ease tensions in the Gulf, where the US-Iran conflict has disrupted regional stability (dawn.com). Analysts suggest the situation cannot return to its pre-war state, but an inclusive regional order may be emerging (dawn.com). The Russian president recently discussed the Gulf and Ukraine situation with the UAE’s leader, indicating broader diplomatic engagement (aljazeera.com). The Hormuz deal could mark a shift toward cooperation, though challenges remain in balancing security and economic interests.
