Oil flows through the Strait of Hormuz have recovered to about two-thirds of pre-US-Iran war levels, Goldman Sachs analysts including Daan Struyven and Yulia Zhestkova Grigsby said. Gulf exports of crude and oil products have risen to 15 million to 16 million barrels a day, though they remain 7 million to 8 million barrels below pre-war levels. Hormuz flows were 5 million to 6 million barrels a day in March, broadly close to U.S. officials’ estimate of 8 million to 10 million barrels a day. Treasury Secretary Scott Bessent said the U.S. had guided 130 million barrels out over the previous 14 days during operation economic outcast. CENTCOM Commander Admiral Bradley Cooper said U.S. forces had taken full control of maritime traffic through the strait, cleared Iranian-laid mines from international shipping lanes and placed commercial traffic under American protection. Iran is preparing conditions for reopening the waterway after Qatar’s PM pressed Tehran on freedom of navigation, while Mohsen Rezaei said Iran would discuss reopening the strait and gradually increasing traffic. Oil prices slipped below $83 a barrel on Friday. Bitcoin traded more than 1% higher over 24 hours at around $79,900, with a low of $78,597 and a high of $81,281, while trading volume rose almost 30% despite crypto options expiry. Investors are also awaiting Fed Chair Kevin Warsh’s Jackson Hole speech; odds of the Fed holding rates in September are 66%. Polymarket participants put a 74% probability on Bitcoin reaching $85,000 by December 31, 2026.