Iranian Ambassador to Russia Kazem Jalali stated that the two nations with jurisdiction over the strait, Iran and Oman, would determine the relevant matters.

Spot gold and silver prices rose modestly and sharply, respectively, amid lower oil prices that eased inflation concerns from the Strait of Hormuz, while a firm U.S. dollar and Treasury yields limited further gains. U.S. equities finished mixed following a previous AI-led rally, with the Nasdaq posting a record close, while European markets showed slight gains overall.

Market focus remained on the Federal Reserve’s recent September rate decision, with futures indicating a roughly 53% probability of an additional October hike.

The agency reports that oil is currently moving through the pipeline at reduced volumes.

UNHCR reported that over 130,000 people have been displaced since early September amid intensifying clashes between Houthi forces and Saudi-backed government troops, with Taiz accounting for more than 60 percent of the recent movement. The agency stated that the majority of those affected are women and children, who have fled from various governorates, though specific operational details regarding roadblocks and fuel shortages remain unverified in this context.

These developments add to a pre-existing crisis where more than 5.2 million people were already internally displaced prior to the current escalation.