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$MIRA <t-10/>#mira @Mira - Trust Layer of AI
🚩🚀🚀 Crude oil futures continued to rise during trading on Sunday amid escalating military tensions in Iran, raising widespread fears of disruptions in global supply, especially with increasing talk of a possible closure of the Strait of Hormuz. According to data from the Hyperliquid platform for futures trading, the price of West Texas Intermediate crude jumped to about $115📢 per barrel on Sunday, compared to Friday's close of $91.27. Additionally, Brent crude, the global benchmark for oil prices, rose to around $117 per barrel, marking its highest levels since 2022, compared to $92.69 at the close of Friday's session. Over the past weeks, energy markets⛽ have seen noticeable increases as investors reacted to military developments in Iran. The intensity of the conflict escalated over the weekend, as U.S. President Donald Trump urged Iran to surrender unconditionally, while Tehran confirmed it would continue fighting as long as conditions required it. Oil prices increased their gains following the announcement by both the UAE and Kuwait to reduce their oil production in anticipation of a possible closure of the Strait of Hormuz, one of the most important maritime routes⛴️ for oil transportation in the world. Kuwait has already begun to cut its production by about 100,000 barrels per day, with expectations that this reduction may be expanded if military escalation continues. Other countries, including Iraq, Saudi Arabia🇸🇦, and Qatar 🇶🇦, have also reduced their production this year, prompting analysts to warn that the ongoing crisis could lead to a depletion of global oil and fuel inventories in a short period. The crisis intensified after Israel targeted key energy infrastructure facilities in Iran over the weekend, while Iran responded by striking the Haifa refinery, one of the largest oil refineries in Israel #Contentos #DegoFinance <t-23/>#MOBOX