According to CoinMeta, as reported by Axios, Rubio told allies that the United States is shifting its approach from military strikes against Iran to economic sanctions, which means Washington is pausing major military operations against Iran. If this is true, it would eliminate a significant tail risk that supports the geopolitical premium on crude oil. Meanwhile, naval mine-clearing operations have re-opened most of the channels in the Strait of Hormuz, and tanker traffic has increased significantly, indicating that oil flows from the Gulf region are stabilizing rather than escalating again. The market may see this as a factor that strengthens recent price corrections, rather than a standalone catalyst. In conversations with several foreign ministers, Rubio outlined a policy based on three key elements: delaying further military actions against Iran, increasing economic pressure through a U.S. naval blockade, and maximizing the amount of oil transported to global markets via the Strait of Hormuz. U.S. officials stated that this stance could continue until after the mid-term elections, after which military actions might be reconsidered.