Trump considers Iranian offer to reopen Strait of Hormuz, easing oil tensions

Donald Trump is weighing an Iranian offer to reopen the Strait of Hormuz, potentially easing oil market tensions. WTI Crude Oil hitting $160 in April 2026 sits at 0.2% YES. The prospect of de-escalation slashed odds across oil price markets. The Crude Oil All Time High by April 30 contract is at 0.5% YES, down from 1% yesterday and 4% a week ago. The WTI Crude Oil Price in April market holds at 0.2% YES, with traders clearly skeptical that prices reach $160 before month-end. The near-zero odds on $160 WTI aren’t moving. These markets have been reactive: a 50-point spike hit at 11:40 AM last week when geopolitical tensions were higher. But actual USDC traded is modest, at $1,012 across WTI markets and $754 in the crude oil high market, which points to thin conviction on both sides.

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