The sanctions relief, valid for 60 days, has the potential to alleviate the supply disruptions triggered by the near-closure of the Strait of Hormuz, a vital chokepoint where as much as 20% of global oil supplies flow.
US refiners can temporarily buy Iranian crude again for 60 days, offering a rare opportunity amidst global supply concerns. This sanctions relief aims to mitigate potential oil supply disruptions, especially those stemming from the Strait of Hormuz, which accounts for 20% of the…
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