Ahwaz produces 800,000 barrels a day, which is 20% of Iran's entire oil supply. There are reports that the "Strait of Hormuz" could be disrupted amid ongoing attacks.
Almost 20% of the world's oil supply moves through the "Strait of Hormuz." Unlike other routes, it has almost no viable bypass options.
If it gets disrupted:
- China, India, Japan, and South Korea will face an oil shock, as 70%-80% of their oil comes through this route.
- Saudi Arabia and the UAE will lose their export routes, with only a fraction potentially diverted.
Oil prices could spike above $100/barrel, and in extreme cases, it could even reach $150.
I'm eyeing the US stock market open; as of now, BTC and ETH are looking stable. However, if escalation continues, a brutal stock market open could happen on Monday, which may crash risk-on assets.
$BTC
