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U.S.-Iran Indirect Contacts Resume as Crude Outlook Faces New Test
Expectations for a follow-up meeting, an end to the blockade and restored shipping have not risen alongside the renewed diplomatic contact.
The United States and Iran have resumed indirect contacts, putting crude-oil market expectations back in focus as markets assess whether the development could affect the blockade and shipping disruptions.
The renewed communication has not produced a matching increase in expectations for a follow-up meeting. Expectations that the blockade could be lifted or shipping routes restored also have not risen in tandem.
That gap leaves the near-term crude outlook tied to whether indirect contact develops into a further meeting and whether restrictions affecting maritime traffic are eased.
