Strait of Hormuz instability raises concerns for global energy supply. WTI reaching $130 in July 2026 at 0.4% YES.

US demands Iran reopen the Strait of Hormuz by Saturday. WTI reaching $110 in July priced at 1.0% YES.

Brent crude falls below $70 amid Strait of Hormuz closure. New all-time high by September 30 at 4.5% YES, by December 31 at 10.5% YES.