1354 GMT - The South African rand looks well placed to benefit if oil prices remain subdued, TD Securities strategists say in a note. Although uncertainty over the Middle East conflict continues, oil prices are no longer embedding a worst-case disruption scenario and market moves suggest a reopening of the Strait of Hormuz is more likely than not, they say. The rand has consistently moved in the opposite direction to oil prices. Additional positive drivers for the rand include buoyant risk sentiment after a strong second-quarter earnings season, South Africa's attractive yields and higher gold prices, they say. The dollar falls 0.1% to 16.1715 rand.