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Asian Oil Buyers Brace for Flood of Crude From Persian Gulf
Asian oil buyers anticipate increased crude shipments from the Persian Gulf following a US-Iran agreement to end hostilities and ensure safe passage through the Strait of Hormuz. The deal allows free shipping for 60 days, after which Iran, Oman, and Gulf states will establish a long-term management plan for the waterway.
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Adjacent reporting
- U.S.-Iran deal expected to reopen Strait of Hormuz could be signed within days, both sides say
- Oil Prices Might Not Go Back to Normal Anytime Soon
- President Trump says Strait of Hormuz will be 'fully opened' by Friday
- US allows more than a dozen ships through to Iranian ports, lifting blockade under deal, Vance says