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Hormuz has just been closed again. Once again.
The ceasefire only lasted less than 24 hours. Iran has halted all oil tanker activities following Israeli airstrikes against Hezbollah in Lebanon. Up to 20% of the global oil supply passes through this strait. The closure in March pushed Brent crude prices above $140, and analysts are now warning that prices could reach $200 if tensions continue to escalate.
BTC surged on the news of the ceasefire, while oil dropped 19%. But both trends could reverse very quickly.
Whether there is a ceasefire or not, Hormuz remains the real triggering factor.
What position are you taking? 👇