Senator Capito explicitly stated that the Strait of Hormuz is key for global oil commerce and safety, and reopening it would provide significant economic relief. If U.S.-Iran negotiations succeed, the strait could reopen, reducing oil supply disruptions and stabilizing global oil markets. WATCH for developments in negotiations, as progress could lead to lower oil price volatility and benefit oil-dependent economies. Negotiations could fail if Iran does not agree to terms, or if other geopolitical factors intervene.