Energy market expert: Iran's threat to block the Strait of Hormuz may be just a verbal statement

ChainCatcher news, according to CoinDesk, energy market expert Anas Haji stated that Iran's threat to close the Strait of Hormuz may primarily stem from domestic political considerations. Data shows that Brent crude oil prices fell back to $77 after reaching $77.79 per barrel, with an increase of only 1.4%. Analysts pointed out that 80% of the oil in the strait flows to Asian countries, and an actual blockade would primarily harm the interests of Iran's allies.

As a result, Bitcoin rebounded from a low of $98,000 to above $101,000. Analysts at ING believe that market concerns about disruptions in shipping through the strait are easing.