The market raises oil price expectations again, WTI crude oil breaking above $115 per barrel seen as a high probability event

On April 13, a senior U.S. official stated that Iran has rejected requests to halt uranium enrichment activities and dismantle key uranium enrichment facilities. The official also noted Iran turned down the U.S. proposal to stop funding Hamas (the Palestinian Islamic Resistance Movement), Lebanese Hezbollah, and Houthi forces, as well as demands to fully open the Strait of Hormuz. Iran has not yet responded to these claims, according to CCTV News.

April 13th — Official data shows Hyperliquid capitalized on the crude oil trading surge as traditional markets closed for the weekend, with combined open interest for the two key crude contracts topping $1 billion. WTIOIL hit $670 million, while BRENTOIL stood at $334 million. Meanwhile, Hyperliquid traders have begun shifting to long positions on crude, pushing the 24-hour funding rate for both contracts to around 0.6%.

On April 12, per Iran's Tasnim News Agency, Iranian President Ebrahim Raisi told Russian counterpart Vladimir Putin in a phone call that day that Iran is fully ready to strike an agreement ensuring long-term regional peace and security—one that is balanced and fair.

April 12 — Digital asset financial services firm Tok-Edge has announced the launch of a crypto hedge fund for institutional investors, targeting $100 million in its first funding round by 2026. The fund’s long-term goal is to build a compliant, institutional-grade crypto asset allocation infrastructure, starting with an initial size of $21 million. Marcus Meijer, a veteran traditional finance investor, and his investment consortium are backers of the fund; the consortium plans to contribute $10 million as a cornerstone investor.

On April 12, local time, Iran stated that two U.S. Navy ships—the USS Frank E. Peterson and USS Michael Murphy—had attempted to "penetrate" the Strait of Hormuz the previous day. The U.S. vessels exploited ceasefire conditions in an apparent bid to fabricate claims of a "successful transit" and influence ongoing U.S.-Iran negotiations, according to Iran. Iran further alleged the destroyers tried to impersonate Omani commercial vessels operating along the southern Arabian Sea coast. They chose a high-risk route extremely close to the shore in shallow waters, hoping to enter the Persian Gulf via "covert maneuvers" and leveraging what it claimed was Iranian military "negligence" during the ceasefire. Iran’s navy intercepted the ships at the entrance to the Persian Gulf. Unable to enter the Strait of Hormuz, the two destroyers were forced to retreat to the Arabian Sea. (Source: CCTV News)

April 12 announcement: Donald Trump will be interviewed in the White House Oval Office Wednesday 6-8 p.m. Eastern Time (6-8 a.m. Beijing Time Thursday) to address economic issues.