The US reportedly carried out limited strikes on Qeshm Island in the Strait of Hormuz on Tuesday, while Iranian media reported five explosions in quick succession. Unnamed US officials cited by several outlets described the attacks as defensive and said they were the latest of several strikes that had not been publicly announced. The reports came as Trump said a deal with Iran “could happen” and Iranian Foreign Minister Abbas Araghchi said indirect negotiations with the US were underway. A senior Iranian official said Tehran could reopen the strait within two days if Washington accepted its long-standing demands, including ending the war on all fronts and lifting oil sanctions.
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Strait of HormuzIrangeopoliticsoil pricesDonald Trump
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Related tickers and likely impact
PAXG/USDT
▲ Likely positivePAX Gold
Relevance: medium
| Market | Crypto |
|---|---|
| Exchange | Binance |
| Sector | Real-world assets |
| Market cap | $1.7B |
| Close on 11/03/2026 | 3,946.40 |
| Change that session | -0.16% |
XAUT/USDT
▲ Likely positiveTether Gold
Relevance: medium
| Market | Crypto |
|---|---|
| Exchange | Binance |
| Sector | Real-world assets |
| Market cap | $3.1B |
| Close on 11/03/2026 | 3,934.56 |
| Change that session | -0.11% |
XAU/USD
▲ Likely positiveRelevance: medium
| Market | Gold |
|---|---|
| Close on 11/03/2026 | 3,930.22 |
| Change that session | -0.42% |
SPY
▼ Likely negativeSPDR S&P 500 ETF
Relevance: low
| Market | US stocks |
|---|---|
| Sector | ETF |
| Close on 11/03/2026 | 754.35 |
| Change that session | +0.30% |
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