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Market Chatter: Oil Transit Through Strait of Hormuz Tops 10 Million b/d

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Oil shipments through the Strait of Hormuz have climbed above 10 million barrels per day as expanded US military support reassured commercial shippers and accelerated traffic through the key waterway, Bloomberg reported Wednesday, citing a US official.

The official said President Donald Trump's interim accord with Iran helped drive the recovery, while Tehran's diminished ability to interfere with vessel movements encouraged operators to return. The official said US air and naval forces also steered more traffic toward the southern shipping lane near Oman.

The report also said US officials want to turn the temporary shipping arrangement into a lasting framework before the 60-day negotiation window closes while keeping commercial vessels moving freely.

The White House did not immediately respond to' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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