The possibility of Iran’s leadership blocking the Strait of Hormuz for shipping has increased following US airstrikes to Iran’s nuclear facilities.
At the time of the press, the shares of the Yes part of the listed Polymarket listed “Iran will close the Strait of Hormuz Before June 30 Exchanged to 40 cents, representing a 40% probability. That’s a well -known increase from 14% Saturday. Meanwhile, the odds of the event taking place by the end of the year is rising Up to 52%, from 33% on the previous day.
Approximately 20 million oil barrels are carried by the Strait of Hormuz day -day, which costs about 20% of the world’s oil consumption, According to the Middle East Forum observer. Therefore, the potential closure of the hormuz can contribute to a prolonged oil price shock.
According to JPMorgan analystsShutting a Strait of Hormuz can catapult crude oil prices at an eye-popping $ 120 to $ 130 per barrel.
Such a spike in oil prices, in conjunction with the ongoing trade war, can lead to stagflation – the worst outcome for financial possession, including cryptocurrencies.
As of writing, the cryptocurrency market did not show any signs of panic, including bitcoin
Continue to trade above $ 100,000, per coindesk data.
President Donald Trump confirmed the airstrikes on Saturday night, saying that the attack devastated three critical Iranian nuclear nuclear enrichment facilities, calling the “Bully of the Middle East (Iran) to make peace.”
