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US strikes on targets at Iran’s Kharg Island have raised fears of a wider escalationChina says economy off to solid start but demand remains weakTrump is weighing a seizure of Iran’s critical oil depot on Kharg IslandChina industrial output beats forecasts as property slump deepensStrait of Hormuz ship traffic collapses to zero amid conflict, energy corridor shutsChinese house price slump continues: -3.2% y/y in February (-3.1% prior)PBOC sets USD/ CNY reference rate for today at 6.9057 (vs. estimate at 6.9061)Global equity funds see largest outflows since DecemberJapan warns ready to take decisive action on FX – ramps up verbal intervention on yenOil lower to fill gap as Trump presses allies for Hormuz helpReserve Bank of New Zealand (RBNZ) says U.S. tariffs may ease inflation short termTrump on his knees. Begging for help from China, EU, UK, NATO on Hormuz.EU weighs naval response as Trump’s Strait of Hormuz disruption surges oil pricesFrench President Emmanuel Macron spoke direct with Iranian President Masoud PezeshkianU.S. and China hold talks ahead of Trump–Xi talks. Talk, talk, talk …. rinse, repeat.U.S. oil executives warn Trump energy crisis could worsen. Oil futures higher at the open.New Zealand electronic card retail spending rose in February from the previous monthNew Zealand services sector falls back into contraction in FebruaryTaiwan reports surge in Chinese military aircraft after unusual lull. China needling TrumpThere is a BIG BUT on this: US preparing multinational naval escorts for Strait of HormuzIndia is kicking Trump’s ass on Iran war, getting tankers through Strait of HormuzWeekend co-ordinated FX intervention warning – Japan, South Korea firm on FX volatilityMonday open indicative forex prices, 16 March 2026Trump ask China and others for help in opening Strait of HormuzAt a glance:Oil prices slipped Monday, paring early gap higher gains as markets assessed efforts to secure the Strait of Hormuz.Trump pressed allies including NATO members and China to help reopen the key energy corridor.The U.S. struck Iranian military targets on Kharg Island over the weekend, prompting threats of retaliation from Tehran.Japan and Australia signalled they will not send naval vessels to the region despite U.S. requests.Energy infrastructure incidents were reported in the UAE, including a drone strike near Fujairah and a fuel depot fire near Dubai airport.The dollar softened slightly at the start of the week, while FX markets remained volatile.USD/JPY traded choppily after Japan warned it is prepared to take decisive steps on currency volatility.Oil prices eased on Monday, trimming early gap up gains as markets assessed geopolitical developments and diplomatic efforts aimed at restoring shipping through the Strait of Hormuz, a critical conduit for global oil and gas flows.U.S. President Donald Trump said Washington is pressing other countries to help safeguard the strait and is currently in discussions with several nations about policing the waterway. The remarks came after Trump urged NATO allies and major energy importers, including China, to participate in U.S.-led efforts to reopen the corridor.Trump said the United States remains in contact with Iran but expressed scepticism that Tehran is ready for meaningful negotiations. Iranian officials have pushed back strongly on that claim. Iran’s foreign minister told CBS there was little reason to engage in talks with Washington after the United States attacked Iranian targets while negotiations were still ongoing.The conflict intensified over the weekend after the United States struck Iranian military infrastructure on Kharg Island. Trump later warned that additional strikes could target the island’s oil export facilities if attacks on shipping in the Strait of Hormuz continue. Kharg Island handles roughly 90% of Iran’s crude exports, making it a highly sensitive energy asset.Tehran responded with threats of retaliation, warning it could target ports and other facilities in the region that it believes were used to support the strikes. The United Arab Emirates rejected those accusations, saying they reflected a “confused policy” and reaffirming its commitment to restraint.Several incidents affecting regional energy infrastructure were also reported. A fire briefly halted operations at a major oil storage facility in Fujairah after what authorities said was an intercepted drone strike. Operations have since resumed. Separately, a fuel depot near Dubai International Airport was struck overnight, prompting a temporary suspension of flights before the situation was brought under control with no injuries reported.Meanwhile, international support for U.S. efforts to secure the strait appeared mixed. Japan’s Prime Minister Sanae Takaichi said Tokyo currently has no plans to send naval vessels to the Middle East, though Japan will participate in coordinated releases of strategic oil reserves as part of an International Energy Agency initiative to stabilise markets. Australia also said it would not deploy naval ships to the area. Separately, U.S. President Donald Trump is reportedly seeking to assemble a multinational naval coalition to help reopen shipping through the Strait of Hormuz, according to people familiar with the discussions cited by Axios.In currencies, the U.S. dollar softened slightly at the start of the week. EUR/USD rebounded from around a seven-month low, while USD/JPY traded choppily after Japanese Finance Minister Satsuki Katayama warned authorities are prepared to take decisive steps if foreign-exchange volatility intensifies.The Australian and New Zealand dollars recovered modestly from earlier losses ahead of the Reserve Bank of Australia policy meeting on Tuesday, where markets widely expect another rate hike. In data releases, China’s latest activity showed industrial output, retail sales and fixed-asset investment all beating expectations, but the property sector remained firmly in contraction. The ongoing housing slump continues to weigh heavily on consumer confidence, with new home prices falling for a 33rd straight month and second-hand home prices declining for a 34th consecutive month.
This article was written by Eamonn Sheridan at investinglive.com.
💡 DMK Insight
The geopolitical tensions surrounding Iran’s Kharg Island are creating ripples in the oil market, and here’s why that matters for traders: With SOL currently at $93.83, the escalation in the Strait of Hormuz could lead to increased volatility in energy prices, particularly oil, which often correlates with crypto assets like SOL. Traders should keep an eye on how these geopolitical events impact oil supply and demand, as disruptions could lead to price spikes. If oil prices surge, it could shift investor sentiment towards riskier assets, including cryptocurrencies, which might see a bullish trend. Conversely, if tensions escalate further, we could see a flight to safety, negatively impacting crypto markets. It’s also worth noting that China’s mixed economic signals—solid industrial output but weak demand—could further complicate the situation. If China’s economy falters, it might dampen global demand for oil, affecting prices and, by extension, the crypto market. Traders should monitor key price levels in oil and SOL, particularly any significant moves above or below $95 for SOL, as that could indicate broader market sentiment shifts. Keep an eye on developments in the Strait of Hormuz and any news from China for immediate trading strategies.
📮 Takeaway
Watch for SOL’s reaction around the $95 level, as geopolitical tensions could lead to significant volatility in both oil and crypto markets.
