Sam Price Warns of Increased Risks in the Strait of Hormuz as Crude Oil Prices Remain High

According to Twitter user Sam Price, two cargo ships sank after being attacked near the Strait of Hormuz, and Iran has intensified its attacks on shipping. The crew of one ship has been safely evacuated. Insurance costs have skyrocketed, shipping traffic continues to be disrupted, and crude oil is maintaining a supply premium around $105 per barrel. The Houthis also attacked the headquarters of Saudi Aramco and vowed to carry out more strikes on Saudi oil. High oil prices are driving inflation up, leading to a decline in market risk appetite, which poses a negative factor for Bitcoin.

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