US President Trump says Chinese President Xi has offered to help on Iran and that XI wants to see Hormuz open, Fox news reports; Xi said he will not give military equipment to Iran

This statement from President Trump could signal a potential easing of tensions regarding Iran, as Xi’s willingness to assist on the Hormuz Strait may stabilize energy markets. Given the strategic importance of this waterway for oil shipments, any move toward de-escalation can impact commodities, particularly crude prices, and risk sentiment across equities and currencies.