{"id":72140,"date":"2026-05-06T15:29:44","date_gmt":"2026-05-06T15:29:44","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/oil-sinks-to-88-then-spikes-as-iran-claims-control-of-hormuz\/"},"modified":"2026-05-06T15:29:44","modified_gmt":"2026-05-06T15:29:44","slug":"oil-sinks-to-88-then-spikes-as-iran-claims-control-of-hormuz","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/oil-sinks-to-88-then-spikes-as-iran-claims-control-of-hormuz\/","title":{"rendered":"Oil Sinks to $88, Then Spikes as Iran Claims Control of Hormuz"},"content":{"rendered":"<p><b>(Originally posted on : Bitcoin News )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"@container mb-[25px] rounded-sm overflow-clip py-0.5 pr-0.5 pl-2.5 bg-success-100\">\n<div class=\"flex flex-col gap-m overflow-clip rounded-[6px] !bg-success-10 p-3 @[420px]:p-m\">\n<h2 class=\"m-0 flex items-center gap-s text-[19px] !text-[#1c1c1c] md:text-[20px]\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"16\" height=\"10\" viewbox=\"0 0 16 10\" fill=\"none\" class=\"shrink-0 text-success-100\" aria-hidden=\"true\"><path d=\"M1 1.5h14\" stroke=\"currentColor\" stroke-width=\"2.5\" stroke-linecap=\"round\"\/><path d=\"M1 8.5h10\" stroke=\"currentColor\" stroke-width=\"2.5\" stroke-linecap=\"round\"\/><\/svg><span>Key Takeaways<\/span><\/h2>\n<ul class=\"m-0 flex list-none flex-col gap-m pl-0\">\n<li class=\"m-0 flex items-start gap-s !text-[#434248]\"><span class=\"mt-2 size-2 shrink-0 rounded-full bg-success-100\" aria-hidden=\"true\"\/><span class=\"text-body\">Trump\u2019s hopes to end Epic Fury dropped WTI to $88.66, but future deals face hurdles from Iran\u2019s new demands.<\/span><\/li>\n<li class=\"m-0 flex items-start gap-s !text-[#434248]\"><span class=\"mt-2 size-2 shrink-0 rounded-full bg-success-100\" aria-hidden=\"true\"\/><span class=\"text-body\">Iran\u2019s new Persian Gulf Strait Authority threatens US talks by demanding a fee for future Hormuz transits.<\/span><\/li>\n<li class=\"m-0 flex items-start gap-s !text-[#434248]\"><span class=\"mt-2 size-2 shrink-0 rounded-full bg-success-100\" aria-hidden=\"true\"\/><span class=\"text-body\">Rejecting US terms, the IRGC Navy will enforce new transit rules, pushing June WTI futures back above $96.<\/span><\/li>\n<\/ul>\n<\/div>\n<\/div>\n<h2>Oil Prices Bounce After Iran Establishes New Persian Gulf Strait Authority<\/h2>\n<p>Oil prices continue to navigate high <a href=\"http:\/\/www.bitcoin.com\/get-started\/what-is-volatility\/\" class=\"lar_link lar_link_outgoing\" target=\"_blank\" rel=\"noopener noreferrer\">volatility<\/a> as negotiations between the U.S. government and the Iranian regime to terminate the current conflict unfold.<\/p>\n<p>On Wednesday morning, reports of a possible termination of \u201cOperation Epic Fury\u201d derived from an agreement centered on a memorandum of understanding prompted oil prices to drop substantially, with West Texas Intermediate (WTI) futures reaching as low as $88.66 and their Brent equivalents for July delivery dropping to $96.75.<\/p>\n<p><\/p>\n<p>On Truth Social, Trump <a href=\"https:\/\/truthsocial.com\/@realDonaldTrump\/116527444859592032\" target=\"_blank\" rel=\"noopener noreferrer\">stressed<\/a> that <strong>\u201cassuming Iran agrees to give what has been agreed to, which is, perhaps, a big assumption, the already legendary Epic Fury will be at an end, and the highly effective Blockade will allow the Hormuz Strait to be OPEN TO ALL, including Iran.\u201d<\/strong><\/p>\n<p>Nonetheless, pessimistic <a href=\"https:\/\/x.com\/KobeissiLetter\/status\/2051997405382422665?s=20\" target=\"_blank\" rel=\"noopener noreferrer\">reports<\/a> about the feasibility of a conflict termination appeared mid-morning, as Iran established the \u201cPersian Gulf Strait Authority\u201d to oversee maritime transit passage through the Strait of Hormuz.<\/p>\n<p>The authority\u2019s new website hints at the collection of fees for this passage and the establishment of rules issued by the current Iranian government, a point that differs from Washington\u2019s conditions to end the conflict and the maritime blockade against Iran.<\/p>\n<p>Regarding the authority\u2019s operation, the Iranian regime thanked ship captains and operators for their <strong>\u201ccooperation in transiting the Strait of Hormuz in accordance with Iranian regulations,\u201d<\/strong> suggesting that the entity is already coordinating safe passage for vessels.<\/p>\n<p><strong>\u201cWith the end of threats from aggressors and under new procedures, safe and sustainable passage through the Strait will be possible,\u201d<\/strong> the Islamic Revolutionary Guard Corps (IRGC) Navy Command declared.<\/p>\n<p>Oil prices bounced after these events. WTI futures with June delivery rose to over $96, and Brent futures with July delivery reached over $103 per barrel.<\/p>\n<\/p><\/div>\n<p><a href=\"https:\/\/news.bitcoin.com\/market-whiplash-oil-sinks-to-88-then-spikes-as-iran-claims-control-of-hormuz\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : Bitcoin News ) Key Takeaways Trump\u2019s hopes to end Epic Fury dropped WTI to $88.66, but future deals face hurdles from Iran\u2019s new demands. Iran\u2019s new Persian Gulf Strait Authority threatens US talks by demanding a fee for future Hormuz transits. Rejecting US terms, the IRGC Navy will enforce new transit [&hellip;]<\/p>\n","protected":false},"author":15,"featured_media":72141,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[32],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/72140"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/15"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=72140"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/72140\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/72141"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=72140"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=72140"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=72140"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}