Iran’s politicians were inclined in favor of blocking the strategically important hormuk Strait on Sunday in response to US military attacks in Iranian nuclear facilities, according to Saeed Azimi, Tehran correspondent for France 24.
“Parliamentarians have unanimously reached this conclusion simply in a capacity for consultation. The decision falls to the Supreme National Security Council,” Azimi said in X, responding to several media reports, including Arabia, which Parliament has approved the closure.
The Strait, a key global oil shipping route, represents a fifth of the world’s oil trade. Therefore, it is likely that the closure of the route will send oil prices to the sky, possibly in three figures, reinforcing the fears of stanflation in nations of important commercial deficit of oil such as the United States
Analysts expect Brent and WTI prices to open significantly higher on Monday, setting a potential supply adjustment.
Meanwhile, a dark token called Digital Oil Memecoin (OIL) has shot more than 400% against USD, according to the Dextools.io data source. The Token appears in the decentralized Raydium based on Solana.
“Does the most geopolitically advantageous memecoin
The Token emerged earlier this year after the vocal cryptocurrency and the critic of Bitcoin Peter Schiff published an X publication that supports the idea of creating a digital oil.
