According to CoinMeta, the decline in oil prices has led to a slight reduction in market expectations for a rate hike by the Bank of England in 2026. Negotiations between Iran and Oman regarding the reopening of the Strait of Hormuz have helped drive down oil prices, alleviating concerns about inflation. LSEG data shows that the market currently expects the Bank of England to raise interest rates by a total of 23 basis points by the end of the year, which is 2 basis points lower than the expectation from Tuesday.