Oil is back above $100 as US-Iran tensions continue to worsen and the Strait of Hormuz remains blocked!
Trump rejected Iran’s conditions yesterday, calling them “totally unacceptable.” As a result, the ceasefire is basically on life support, the blockade is still ongoing, and the risk of escalation remains very real.
Personally, I think this keeps strong pressure on Iran while extending uncertainty across the market. The result: oil continues trading with a significant geopolitical risk premium. I’m already long on oil, and if Trump maintains this hardline stance, I’ll probably add more exposure using leverage on Bitget CFD to maximize the position.
But honestly, I didn’t expect this US-Iran situation to drag on for this long. Do you think we could see a resolution relatively soon so prices can stabilize again, or are we potentially looking at a conflict that could last another two years?