CRUDE OIL RISES AS U.S.-IRAN PEACE TALKS RESUME, HORMUZ RISKS LINGER • WTI ROSE 2.2% TO SETTLE AT $70.75 A BARREL, WHILE BRENT GAINED 1.6% TO $73.15 • OIL PRICES ROSE AFTER THE U.S. AND IRAN AGREED TO HALT ATTACKS AND RESUME PEACE TALKS IN DOHA • HOPES FOR AN EVENTUAL FULL REOPENING OF THE STRAIT OF HORMUZ CONTINUED TO SUPPORT MARKET SENTIMENT • TANKER TRAFFIC THROUGH THE STRAIT OF HORMUZ REMAINED BELOW NORMAL FOLLOWING RECENT ATTACKS, KEEPING SUPPLY RISKS ELEVATED • IRAN SAID IT WILL CONTINUE PLANS TO MANAGE MARITIME TRAFFIC THROUGH THE STRAIT OF HORMUZ • TRADERS ARE CLOSELY WATCHING SHIPPING FLOWS, INSURANCE COSTS, AND SUPPLY CHAIN NORMALIZATION • MOST OF OIL'S WARTIME RISK PREMIUM HAS NOW BEEN ERASED AS DIPLOMATIC EFFORTS GAIN MOMENTUM • POTENTIAL RUSSIAN DIESEL EXPORT RESTRICTIONS COULD TIGHTEN GLOBAL FUEL SUPPLIES AND SUPPORT OIL PRICES