The Strait of Hormuz is considered to be the most critical region in Middle East developments. Due to the importance of this route in global oil transportation, developments here are likely to have an impact on international markets.
In this context, the article stated that talks were held between Iran and Oman on the conditions, traffic, regional security and other issues related to the Hormuz route.
International energy markets are likely to get some relief if regional tensions subside and oil transportation goes smoothly.
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