Iran agrees to remove mines, easing Strait of Hormuz tensions

## Market Snapshot

US-Iran Agreement/Ceasefire Extension market is priced at 53% YES, down from 67% 24 hours ago. Strait of Hormuz Traffic Normal by July 31 market is currently at 60.5% YES, slightly lower from 62% the previous day.

## Key Takeaways

– Iran’s commitment not to pursue nuclear weapons and to remove mines from the Strait of Hormuz suggests a potential easing of regional tensions. – The agreement could indicate an increased likelihood of a new US-Iran agreement announcement by June 7. – Iran’s actions and the lifting of the US naval blockade are consistent with scenarios of normalizing Strait of Hormuz traffic by July 31.

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