Oil prices surged after Trump's threats on shipping through the Strait of Hormuz. Crude oil reaching a new all-time high by December 31 at 14.5% YES.

Iran attacked vessels in the Strait of Hormuz, causing oil prices to rise. WTI reaching $110 in July 2026 at 1.2% YES.

The U.S. and Iran disputed whether Hormuz was open to ship traffic after trading strikes over the weekend.

By Barbara Kollmeyer and Mike Murphy

Iran closed the Strait of Hormuz, causing oil prices to surge 5%. WTI reaching $130 by July 2026 is at 0.7% YES.

Iran says it will not allow Washington to intervene in the Strait of Hormuz