Iran officials reportedly pessimistic on near-term Hormuz agreement

Iranian officials are reportedly pessimistic about reaching an agreement with the U.S. to end hostilities and reopen the Strait of Hormuz before the November U.S. midterm elections, according to Bloomberg as cited in the source.
A prolonged absence of an agreement would keep uncertainty around a critical global energy shipping route elevated and could sustain a geopolitical risk premium in crude markets.