🚨 Something is breaking in the oil market.$STO

WTI crude just closed at $101.17/barrel, the highest level since July 2022, up +42% in 12 months.$ENJ

Strait of Hormuz vessel traffic has now COLLAPSED, cutting oil supply to ~1 million b/d from 20.9 million per day.$CFG

If flows stay at 5% for 10 weeks, Brent could exceed $147/barrel, a NEW ALL-TIME HIGH.

Trump gave Iran until April 6 to fix it.

8 days then we find out how bad this gets.