CFDs on WTI Crude Oil
Long

Iran announced the blockade of the Strait! Crude oil may soar!

860
‼️‼️‼️
The Iranian parliament approved the closure of the Strait of Hormuz, but the highest security agency needs to make the final decision on this measure. The Strait of Hormuz is located between Oman and Iran, connecting the Gulf of Oman in the east and the Persian Gulf in the west. It is the only sea route for oil from the Gulf region to be transported to all parts of the world. About one-third of the world's seaborne crude oil trade passes through the Strait of Hormuz!

If Iran really blocks the Strait of Hormuz, the transportation cost of crude oil will soar, and oil prices will also soar, even reaching new highs!

(Wall Street analysts have preliminarily calculated that if the Strait of Hormuz is blocked, the price of crude oil will soar to $120! Even $150!)

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.