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Iran's Stranglehold on the Strait of Hormuz: What It Means for Global Markets 
The Russian stock market ended Saturday's trading session virtually unchanged, with the MOEX Russia Index closing at 0.00% as mixed performance across sectors balanced out gains and losses. Despite the flat headline index, market breadth leaned bullish, with 167 advancing stocks outpacing 52 decliners and 25 issues closing flat on the Moscow Stock Exchange.
Among the top gainers, Surgutneftegas PJSC Preferred shares (MCX:SNGS_p) led the session with a 1.22% gain, closing at 47.74. Fertilizer giant PhosAgro PJSC (MCX:PHOR) climbed 0.92% to finish at 7,326.00, while state-owned oil major Rosneft PJSC (MCX:ROSN) edged up 0.81% to 505.15, reflecting continued investor interest in Russia's energy and commodities sectors.
On the downside, aluminum producer OK Rusal MKPAO (MCX:RUAL) slipped 0.21% to 44.35, national carrier Aeroflot PJSC (MCX:AFLT) eased 0.21% to 51.30, and steelmaker Severstal PJSC (MCX:CHMF) dipped 0.13% to 926.60. These modest declines suggest limited selling pressure rather than broad-based bearish sentiment.
Market volatility remained subdued, with the Russian Volatility Index (RVI) holding flat at 21.59, marking a new 52-week low — a signal that options traders are pricing in relatively calm near-term conditions for Russian equities.
In commodities, global oil prices strengthened noticeably. April-delivery crude oil surged 3.11% to $98.71 per barrel, while May Brent crude rose 2.67% to $103.14 — developments that could support Russia's energy-heavy index in upcoming sessions. Gold futures for April delivery, however, declined 1.25% to $5,061.70 per troy ounce.
On the currency front, the US Dollar gained 0.75% against the Russian Ruble to 80.10, while the Euro slipped 0.08% to 91.45 per Ruble. The US Dollar Index Futures also rose 0.61% to 100.36, reflecting broader dollar strength in global forex markets.
