After the previous weekend's exchange of strikes, the week passed without a repeat escalation, and U.S.-Iran talks on a fuller settlement continued. Tanker traffic through the Strait of Hormuz kept recovering along the widened route near Oman, and WTI crude fell to around $69, far below its wartime highs, easing a major source of inflation pressure. Frictions over transit routes remain unresolved, so headline risk persists.
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