$100 Oil Is Back — And This Time, a U.S. Naval Blockade Is Fuelling the Fire
BeInCrypto
Brent crude surged 7.9% after the U.S. imposed a maritime blockade on Iranian ports, renewing concerns over global oil supply stability.Summary
Brent crude prices jumped 7.9% following a U.S. Central Command announcement enforcing a maritime blockade on all vessels entering or exiting Iranian ports. While the Strait of Hormuz remains open, the restriction on Iranian port access has increased shipping insurance costs and market volatility. Technical analysis shows short-term bullish momentum on 4-hour charts, though the broader daily trend remains cautious as the market responds to high-stakes geopolitical developments and the threat of Iranian retaliation.
(Source：BeInCrypto)