{"id":61026,"date":"2026-04-17T15:38:31","date_gmt":"2026-04-17T19:38:31","guid":{"rendered":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/brent-crude-plunges-9-as-strait-of-hormuz-reopens-feds-waller-defends-private-credit-stability\/61026\/"},"modified":"2026-04-17T15:38:31","modified_gmt":"2026-04-17T19:38:31","slug":"brent-crude-plunges-9-as-strait-of-hormuz-reopens-feds-waller-defends-private-credit-stability","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/brent-crude-plunges-9-as-strait-of-hormuz-reopens-feds-waller-defends-private-credit-stability\/61026\/","title":{"rendered":"Brent Crude Plunges 9% as Strait of Hormuz Reopens; Fed\u2019s Waller Defends Private Credit Stability"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_82_2 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/brent-crude-plunges-9-as-strait-of-hormuz-reopens-feds-waller-defends-private-credit-stability\/61026\/#Key_Takeaways\" >Key Takeaways<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/brent-crude-plunges-9-as-strait-of-hormuz-reopens-feds-waller-defends-private-credit-stability\/61026\/#Energy_Markets_Oil_Prices_Collapse_on_Hormuz_Reopening\" >Energy Markets: Oil Prices Collapse on Hormuz Reopening<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/brent-crude-plunges-9-as-strait-of-hormuz-reopens-feds-waller-defends-private-credit-stability\/61026\/#Monetary_Policy_Feds_Waller_Backs_Private_Credit_and_USD\" >Monetary Policy: Fed&#39;s Waller Backs Private Credit and USD<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/brent-crude-plunges-9-as-strait-of-hormuz-reopens-feds-waller-defends-private-credit-stability\/61026\/#Corporate_Governance_Blue_Owl_Founders_Address_Scrutiny\" >Corporate Governance: Blue Owl Founders Address Scrutiny<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/brent-crude-plunges-9-as-strait-of-hormuz-reopens-feds-waller-defends-private-credit-stability\/61026\/#Geopolitics_Iran_Hardens_Stance_on_Uranium_and_Assets\" >Geopolitics: Iran Hardens Stance on Uranium and Assets<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/brent-crude-plunges-9-as-strait-of-hormuz-reopens-feds-waller-defends-private-credit-stability\/61026\/#Regional_Developments_Serbian_Refiner_License_Extended\" >Regional Developments: Serbian Refiner License Extended<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Key_Takeaways\"><\/span>Key Takeaways<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ul>\n<li><strong>Brent Crude futures plummeted 9.07% to settle at $90.38 per barrel<\/strong> following the official reopening of the <strong>Strait of Hormuz<\/strong> for commercial traffic.<\/li>\n<li><strong>Federal Reserve Governor Christopher Waller<\/strong> dismissed concerns over <strong>private credit runs<\/strong>, stating the sector reduces systemic risk by relying on investor capital rather than deposits.<\/li>\n<li><strong>Blue Owl Capital (<a href=\"\/stock\/OWL\">OWL<\/a>)<\/strong> founders revised personal loan terms, removing over <strong>260 million shares<\/strong> as collateral to ease investor concerns over potential margin calls.<\/li>\n<li><strong>Iran\u2019s Foreign Ministry<\/strong> declared that <strong>60% enriched uranium<\/strong> will remain in the country &quot;in any way,&quot; complicating ongoing nuclear negotiations.<\/li>\n<li>The <strong>U.S. Treasury<\/strong> sanctioned seven leaders of <strong>Iran-backed Iraqi militias<\/strong> following a series of attacks on American personnel and facilities.<\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"Energy_Markets_Oil_Prices_Collapse_on_Hormuz_Reopening\"><\/span>Energy Markets: Oil Prices Collapse on Hormuz Reopening<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><strong>Brent Crude futures<\/strong> experienced a massive sell-off on Friday, dropping <strong>$9.01<\/strong> to settle at <strong>$90.38 per barrel<\/strong>. The decline was catalyzed by statements from <strong>President Donald <a href=\"https:\/\/thestockmarketwatch.com\/live\/trump-stock-market\" data-internallinksmanager029f6b8e52c=\"8\" title=\"Trump\">Trump<\/a><\/strong> and Iranian Foreign Minister <strong>Abbas Araghchi<\/strong>, confirming that the <strong>Strait of Hormuz<\/strong> is now &quot;completely open&quot; for commercial shipping.<\/p>\n<p>The reopening follows a <strong>10-day ceasefire<\/strong> between <strong>Israel and Lebanon<\/strong>, which has significantly reduced the immediate geopolitical risk premium. <em>Market analysts noted that the resumption of tanker traffic through the world&#39;s most critical oil chokepoint has immediately eased supply concerns that had kept prices in triple digits earlier this month.<\/em><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Monetary_Policy_Feds_Waller_Backs_Private_Credit_and_USD\"><\/span>Monetary Policy: Fed&#39;s Waller Backs Private Credit and USD<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><strong>Federal Reserve Governor Christopher Waller<\/strong> addressed growing anxieties regarding the <strong>$1.8 trillion private credit market<\/strong>, arguing that it is not susceptible to the same &quot;run&quot; risks as traditional banks. Waller emphasized that because private credit funds are not deposit-taking institutions, they actually <strong>reduce systemic risk<\/strong> by shifting potential losses away from the banking core.<\/p>\n<p>Waller also reaffirmed his confidence in the <strong>U.S. Dollar&#39;s<\/strong> status as the world&#39;s primary reserve currency, stating he is &quot;not worried&quot; about it losing its standing. <em>His comments come as central bankers continue to navigate a complex post-shock environment, with Waller noting that current policy is better equipped to manage inflation expectations than during the 1970s.<\/em><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Corporate_Governance_Blue_Owl_Founders_Address_Scrutiny\"><\/span>Corporate Governance: Blue Owl Founders Address Scrutiny<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The co-CEOs of <strong>Blue Owl Capital (<a href=\"\/stock\/OWL\">OWL<\/a>)<\/strong>, <strong>Doug Ostrover<\/strong> and <strong>Marc Lipschultz<\/strong>, have moved to stabilize the firm&#39;s stock by revising the terms of personal loans. The founders have removed over <strong>260 million shares<\/strong> of the company\u2014roughly two-thirds of their respective stakes\u2014as collateral for these loans.<\/p>\n<p>The move follows a nearly <strong>40% drop<\/strong> in <strong>OWL<\/strong> shares this year, which had sparked fears of potential margin calls that could further depress the stock price. <em>By decoupling their personal debt from the company&#39;s equity, the founders aim to eliminate a significant overhang that has weighed on investor sentiment.<\/em><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Geopolitics_Iran_Hardens_Stance_on_Uranium_and_Assets\"><\/span>Geopolitics: Iran Hardens Stance on Uranium and Assets<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Tensions remain high in the Middle East as the <strong>Iranian Foreign Ministry<\/strong> announced that its stockpile of <strong>60% enriched uranium<\/strong> will not be transferred outside the country under any circumstances. This declaration coincides with demands from members of the <strong>Iranian Parliament<\/strong> that negotiations with the West are &quot;unacceptable&quot; unless frozen assets belonging to the Islamic Republic are released.<\/p>\n<p>In a separate move to increase pressure, the <strong>U.S. Department of the Treasury<\/strong> designated seven commanders of <strong>Iran-backed Iraqi militias<\/strong>, including leaders from <strong>Kata&#39;ib Hizballah<\/strong> and <strong>Asa&#39;ib Ahl Al-Haqq<\/strong>. These sanctions target individuals responsible for planning attacks on <strong>U.S. personnel<\/strong> and interests in the region.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Regional_Developments_Serbian_Refiner_License_Extended\"><\/span>Regional Developments: Serbian Refiner License Extended<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The <strong>United States<\/strong> has extended a license allowing the <strong>Serbian refiner NIS<\/strong> to continue operations until <strong>June 16<\/strong>. This extension provides a temporary reprieve for the regional energy provider as the U.S. continues to manage its broader sanctions regime. <em>The decision reflects a tactical balancing act by the administration to maintain regional energy stability while keeping pressure on entities with ties to sanctioned states.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways Brent Crude futures plummeted 9.07% to settle at $90.38 per barrel following the official reopening of the Strait [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":50383,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"rank_math_schema_Article":[],"rank_math_focus_keyword":[],"rank_math_description":[],"financial_data_references":[],"stock_symbols_mentioned":[],"footnotes":""},"categories":[5012],"tags":[2037,3710,4462,4664,4824,5213,11744,17403],"class_list":["post-61026","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-breaking-news","tag-us-dollar","tag-federal-reserve","tag-brent-crude","tag-iran","tag-geopolitics","tag-sanctions","tag-blue-owl-capital","tag-owl-stock-owl"],"_links":{"self":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/posts\/61026","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/comments?post=61026"}],"version-history":[{"count":0,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/posts\/61026\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/media\/50383"}],"wp:attachment":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/media?parent=61026"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/categories?post=61026"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/tags?post=61026"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}