According to shipping intelligence firm Kpler, freight futures prices for Very Large Crude Carriers (VLCCs) surged by as much as 85% on Monday due to heightened uncertainty in the Strait of Hormuz, before retreating somewhat later in the trading session. Spot freight rates on routes from key Middle Eastern oil-producing regions to China have risen from $6.55 per barrel to $12 per barrel, reflecting restricted vessel passage and increased risk premiums. By deadweight tonnage, approximately 6% of the global tanker fleet is stranded in the Gulf region, with VLCCs compliant with current environmental regulations accounting for 9.6%. Limited charter contracts are driving up freight rates amid restrictions on crude oil loading. The market anticipates that disrupted exports from the Middle East will boost tanker demand in the Atlantic Basin, the US Gulf Coast, and India. (Jinshi)

Odaily Planet Daily reports that YZi Labs announced on the X platform that it has committed $100 million to @HashGlobal's BNB holding fund. Ella Zhang, head of YZi Labs, shared the argument that BNB has become a fundamental public asset with attractive returns, powering the future of financial infrastructure.

Debris from an intercepting drone crashed, causing a fire at Fujairah, a major oil trading hub in the UAE, the latest in a series of events affecting key energy facilities in the Middle East. Civil defense forces are working to control the blaze. Earlier on Tuesday, another fire was reported in the area, and operations at a major oil storage terminal and a refinery had been suspended the previous day. Fujairah is a crucial refueling port and one of the largest oil storage and trading centers in the Middle East. Located outside the Strait of Hormuz, it holds strategic importance for the UAE. Through a pipeline connecting the region's storage tanks to oil fields in Abu Dhabi, Fujairah also serves as a key alternative export route for the UAE. However, the pipeline's capacity is still insufficient to fully replace all of the UAE's oil flows through the Persian Gulf and the Strait of Hormuz. (Jinshi)

According to Gate data, as reported by Odaily Planet Daily, spot silver plunged 12.00% intraday, falling below $79 per ounce.

According to Gate data, as reported by Odaily Planet Daily, spot gold plunged nearly $100 in the short term, falling below $5,170 per ounce, a daily drop of 2.94%.