A ship paid $2 million to pass through the Strait of Hormuz, highlighting the crisis in this critical oil corridor. After U.S.-Israel airstrikes, Iran closed the strait on March 4, attacking vessels and causing tanker traffic to plummet over 90%. President Trump threatened to destroy Iran's power plants if the strait is not reopened by Monday. Brent crude oil prices surged above $100 per barrel, with warnings that prices could reach $150 per barrel. Despite oil market volatility affecting rate cut expectations, Bitcoin prices have consolidated between $67,000 and $71,000 as speculative leverage cools.
A ship paid $2 million to pass through the Strait of Hormuz, highlighting the crisis in this critical oil corridor. After U.S.-Israel airstrikes, Iran closed the strait on March 4, attacking vessels and causing tanker traffic to plummet over 90%. President Trump threatened to destroy Iran's power plants if the strait is not reopened by Monday. Brent crude oil prices surged above $100 per barrel, with warnings that prices could reach $150 per barrel. Despite oil market volatility affecting rate cut expectations, Bitcoin prices have consolidated between $67,000 and $71,000 as speculative leverage cools.