Oil Industry Prepares as Hormuz Strait Reopening Deadline Nears

Ships are beginning to reroute toward the Middle East ahead of Friday's deadline to reopen the Strait of Hormuz, while Iranian tankers loaded with oil move out of the region. The moves remain tentative, with the industry largely in wait-and-see mode pending a formal deal. Oil-sensitive currencies face volatility, particularly USD/CAD, NOK pairs, and commodity-linked AUD/USD. A confirmed Hormuz reopening could ease supply fears, pressuring oil prices lower and weakening petro-currencies, while any deal collapse risks a sharp risk-off spike.