The likelihood of Iran’s leadership blocking the hormuz strait for shipping has risen after the US air strikes on Iran’s nuclear facilities.
At the time of the press, shares in the yes-side of the polymarket-listed contract “Iran will close the Hormuz Strait before June 30, which traded 40 cents, which represents a 40% probability. It is a remarkable increase from 14% Saturday. Meanwhile, the odds of the event rose by the end of the year to 52%, up from 33% the previous day.
About 20 million barrels of oil are transported through the hormuz strait daily and accounts for about 20% of the world’s oil consumption, according to the Middle East forum observer. Therefore, the potential closure of Hormuz could trigger a sustained oil price shock.
According to JPMorgan’s analysts, the closure of the hormuz strait could catapult crude oil prices at a conspicuous $ 120 to $ 130 per year. Barrel.
Such an increase in oil prices combined with the ongoing trade war could lead to stagflation – the worst result for financial assets, including cryptocurrencies.
From writing the cryptocurrency market has not shown any signs of panic, with Bitcoin
Continuing to trade over $ 100,000 per Coindesk -Data.
President Donald Trump confirmed air strikes on Saturday night and said the attack wiped out three critical Iranian nuclear enrichment facilities and called “Middle East’s bully [Iran] To create peace. “
