Iran’s IRGC: No vessels are permitted to cross the Strait of Hormuz – Reuters

💡 DMK Insight

The IRGC’s closure of the Strait of Hormuz is a game-changer for oil traders right now. This chokepoint is vital, with about 20% of the world’s oil passing through it. If this closure persists, expect immediate spikes in crude oil prices as supply fears mount. Traders should monitor Brent and WTI futures closely; a sustained breakout above recent resistance levels could signal a bullish trend. Keep an eye on geopolitical developments, as any escalation could lead to further volatility not just in oil but also in related markets like natural gas and shipping stocks. On the flip side, if the closure is resolved quickly, we might see a sharp correction in oil prices, so be ready for both scenarios. Watch for updates from the IRGC and any international responses, as these could dictate market movements in the coming days.