A post by @DeItaone on X.

Iran's Foreign Minister Abbas Araqchi said the Strait of Hormuz will be reopened and negotiations with the US will resume if Washington accepts Tehran's conditions, per IRNA. The statement signals a potential de-escalation in the standoff that has threatened roughly 20 million barrels per day of crude flows through the strait, a chokepoint for about a fifth of global oil consumption. Oil markets have been pricing in supply disruption risk, with Brent crude elevated amid fears of closure, while safe-haven demand has supported gold and the dollar. A reopening would likely ease tanker insurance rates and freight costs that have spiked as shipping through the waterway slowed. Watch for US response to Iran's conditions, any confirmation of resumed nuclear talks, and whether tanker traffic and insurance premiums normalize.