With the Strait of Hormuz getting shut, oil prices are about to blast off again—hold your positions steady for now

Crypto news: Commercial shipping traffic in the Strait of Hormuz has fallen sharply. On the 12th local time, Iran announced it would shut down the Strait of Hormuz again. In the past 24 hours, only 11 commercial vessels passed through, including 8 tankers and 3 cargo ships. The Islamic Revolutionary Guard Corps Navy said in a statement that it fired warning shots at a vessel in the strait, and stated that because the “unsafe situation is caused by the illegal interference of foreign forces,” the Strait of Hormuz will be temporarily closed until further notice. Until the United States ends its intervention in the region, no vessels may pass through.