IRAN PROPOSES REOPENING STRAIT OF HORMUZ WITHIN 7 DAYS IF U.S. MOVES TO EASE BLOCKADE. Iran has offered to reopen the Strait of Hormuz within seven days if Washington begins taking steps to lift its blockade of Iranian ports and halt military operations around the waterway, Kyodo reports, citing a senior Iranian official. The proposal has reportedly been delivered to Washington through mediators, with Tehran planning additional talks around the U.N. General Assembly. No agreement has been reached. Iran has previously made reopening the strait conditional on an end to the U.S. blockade. If this is true, it is probably why the markets were as green as they were yesterday. If it became obvious to markets that there was a path to end this war, the Strait would open, oil would go down, and the Fed would likely not have a reason to further cut rates, then everything got bought yesterday as a way to front run that move happening. Oil the lowest it has been in a few weeks!