US-Iran conflict disrupts Strait of Hormuz, crude oil prices soar 30%
RBOB gasoline futures surged 5%, and the Polymarket contract for WTI Crude Oil hitting $160 in April sits at 15% YES, driven by the U.S.-Israeli conflict with Iran disrupting shipping through the Strait of Hormuz. Market reaction The conflict has disrupted shipping through the Strait of Hormuz, cutting into global oil supply. Crude oil prices
