F Samsung Crude Oil Futures (03175) dropped more than 4% in early trading, last seen down 3.73% at HK$10.07, with turnover reaching HK$2.17 million. The decline comes as market sentiment shifts following recent geopolitical developments in the Middle East.

On August 25, Iran and Oman issued a joint statement confirming they have begun discussions on establishing a temporary joint shipping corridor and conducting mine-clearing operations in the Strait. The two nations will continue technical consultations aimed at building a permanent shipping route along with related traffic and safety management mechanisms. This development has fueled growing expectations that shipping through the Strait of Hormuz could gradually resume normal operations.

Separately, market reports citing Pakistani military and Iranian security sources suggest the United States and Iran have reached a consensus on ceasefire agreement terms. However, these reports remain largely based on anonymous sources, as neither Washington nor Tehran has yet released the complete agreement text.

According to Haitong Futures, Brent crude oil futures have retreated notably from recent highs, essentially defusing the risk of an uncontrolled oil price surge. The market has temporarily shifted back into a range-bound trading pattern. Nevertheless, until the relevant strait is fully reopened, the tight supply conditions in the crude market will continue to limit the downside potential for oil prices.