Oil futures rose sharply on the Hyperliquid platform after US President Donald Trump ordered a naval blockade of the Strait of Hormuz. The Strait of Hormuz is of great importance for global energy supply; Endangerment of shipments passing through here may lead to price fluctuations around the world. Trump’s move came after Iran did not give up its nuclear goals at the peace talks in Islamabad held on the same day.
Sharp Increase in Oil Contracts
Oil derivatives, especially WTI (West Texas oil), have increased significantly on the Hyperliquid platform. WTI perpetual futures gained 7 percent to $96.40. Brent type oil contracts increased by 6 percent to 96 dollars.
WTI futures reached a total volume of $1.53 billion. This size made it the third most traded product of the platform after BTC and ETH. These data show that investors are starting to prefer decentralized blockchain-based platforms for price discovery, especially during periods when traditional markets are closed.
April stands out as a critical period when the limit of large-scale supply withdrawals from strategic oil reserves under the coordination of the International Energy Agency (IEA) is approaching. These reserve releases helped offset a supply deficit of approximately 4.5–5 million barrels per day that emerged after the conflict began on February 28.
Double Sided Printing for Supply
With strategic reserves approaching the point of exhaustion, if the supply through Hormuz does not return to normal levels, the supply deficit in the markets may increase to 10-11 million barrels within a few weeks.
The Saudi Arabian administration emphasized that such a situation would mean “an unprecedented supply shock in the modern oil market.” International Energy Agency President Fatih Birol also warned last week that the supply shock in April may be more serious than March.
Among the possible effects on the markets, rapid jumps in price indicators and the sharp upward movement of oil in the first transactions of the week stand out. In parallel with this rising trend of oil, risk aversion may increase again in the stock markets due to inflation concerns.
It is stated that there may be an increase in volatility in both traditional and crypto assets as global growth expectations are reconsidered.
For some investors, Bitcoin plays the role of a “leading indicator” in risk assets. With the latest developments, it is observed that Bitcoin is also under pressure.
Bitcoin was at around $71,000 at the time of writing; This figure represents a 3 percent decrease during the day.
