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⑴ An official from Isfahan Province, Iran, stated on Tuesday that the Yahyaabad railway bridge in the city of Kashan was attacked by the United States and Israel, resulting in 2 deaths and 3 injuries. That same afternoon, parts of Ahvaz City in Khuzestan Province also came under airstrike, with targets located in the Zeitoun area and along the national highway. ⑵ From a trading psychology perspective, the attack on the railway bridge directly threatens Iran’s inland logistics nodes, while Khuzestan Province, where Ahvaz City is located, is Iran’s main energy-producing region, and airstrikes in this area further amplify the potential risk of interruption to crude oil and natural gas transportation. ⑶ The market had previously priced in the risk of a blockade in the Strait of Hormuz, but the spread of attacks to Iran’s deeper infrastructure means the scope of geopolitical conflict is expanding. Any trade flows relying on Middle Eastern energy exports may face longer detour times and higher insurance premiums.

According to CoinShares data, digital asset investment products saw inflows of $224 million last week, with Switzerland leading at $157.5 million, followed by Germany and Canada with $27.7 million and $11.2 million respectively. The United States recorded inflows of $27.5 million. XRP attracted $119.6 million in inflows, the highest since mid-December 2025. Bitcoin saw $107.3 million in inflows but has reported a net outflow of $145 million for the month. Short Bitcoin products saw inflows of $16 million, reaching the highest level since mid-November 2025. Solana recorded inflows of $34.9 million, accounting for 10% of assets under management. Ethereum witnessed outflows of $52.8 million, affected by negative news related to the Clarity Act.

⑴ Ship data shows that Saudi Arabia’s Red Sea port Yanbu saw its average crude oil exports drop to nearly 3.9 million barrels per day in the week ending March 30, down about 15% from approximately 4.6 million barrels the previous week. However, overall exports from this port in March surged more than fourfold compared to February, reaching a daily average of 3.3 million barrels.⑵ Institutional analysts pointed out that the decrease in exports may reflect factors such as vessel availability and arrangements for ship unloading times. Meanwhile, rhetoric from the Yemeni Houthi forces regarding possible attacks on the Bab-el-Mandeb Strait is prompting some shipowners to take a cautious approach when sending ships to this port.⑶ On the trading psychology front, Yanbu is currently Saudi Arabia's only port capable of bypassing the Strait of Hormuz to export crude oil to other regions. Its abrupt weekly decline is undermining the market's previous optimism that “ample pipeline capacity can fully offset a strait blockade.” If the new Red Sea risks materialize, it could create dual bottlenecks in the global crude oil supply chain.