Saudi news channels Alhadath and Al Arabiya, citing sources, reported on the 7th that the United States and Iran have reached a consensus on gradually reopening the Strait of Hormuz in exchange for easing the maritime blockade. A breakthrough in the situation of stranded vessels is expected within hours.
23,000 Crew Stranded; Oil Transport Disrupted for Over Two Months
Since Iran's blockade of the strait in late February, approximately 23,000 crew members from 87 countries have been stranded in the Persian Gulf, and global crude oil transport has been interrupted for more than two months. Upon the news, international oil prices nosedived. WTI crude fell over 3% to $93, and Brent crude dropped nearly 3% to $98, extending the previous session's sharp decline of over 9%.
Safe Havens Strengthen; Bitcoin Unaffected
Safe-haven assets rallied: spot gold surged to $4,750 per ounce, and silver broke above $79 per ounce. Bitcoin held above $81,000, showing no significant drag from the oil price shock. While the prospect of de-escalation in the Hormuz crisis pressured risk assets, cryptocurrencies demonstrated relative resilience.