Iran Opens Hormuz Strait; Markets React Sharply

KuCoinFlash

Release Time: 04/17/2026 13:16:26

Summary

Iran’s foreign minister announced the reopening of the Strait of Hormuz to commercial vessels on April 17, sending shockwaves through global markets. Spot gold surged above $4,840, while silver rose nearly 4% to $81.30 per ounce. WTI and Brent crude oil prices declined by 8% and 7%, respectively. The U.S. Dollar Index dropped over 20 points to 97.98. In crypto, Bitcoin rebounded above $76,000, and Ethereum neared $2,400. Altcoins also saw renewed buying interest as the Fear & Greed Index shifted toward optimism.

BlockBeats report, on April 17, Iran’s Foreign Minister stated that the Strait of Hormuz remains open to commercial vessels, triggering sharp market volatility. Spot gold surged past $4,840, rising over 1% on the day, while spot silver climbed nearly 4% to $81.30 per ounce. U.S. and Brent crude oil briefly plunged, with WTI crude dropping 8% on the day and Brent crude falling 7%. The U.S. Dollar Index (DXY) briefly declined more than 20 points to 97.98, with non-U.S. currencies generally rallying.

In the cryptocurrency market, Bitcoin has rebounded above $76,000, while Ethereum approaches the $2,400 level.

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