Iran’s closure of the Strait of Hormuz has sharply increased tensions with the US. The market for WTI Crude Oil hitting $160 in April sits at 1.4% YES, holding steady despite the disruption.
Market reaction
The closure is moving three markets. The WTI Crude Oil market, with face value trading at $72,164/day, saw a 25-point spike recently before settling back. Pricing at 1.4% shows traders doubt oil reaches $160 even with the strait closed and global supply disrupted.
The Trump’s Iranian Demands market has dropped to 45% YES, down from 62% just 24 hours ago. Face value trading is $11,103/day, with $6,018 in actual USDC. Iran’s aggressive move makes diplomatic concessions from Trump less likely.
The probability of a US-Iran permanent peace deal by April 22 has fallen to 16.5% YES, down from 40% yesterday. Volume is heavy at $1,981,207/day as negotiations stall.
Why it matters
Iran’s closure of the strait is a strategic gamble: it risks its own economy to gain leverage in negotiations. Traders appear to read this as a temporary escalation rather than a permanent break in diplomacy. At 1.4¢, a YES share on WTI Crude Oil reaching $160 pays $1, a 71x return. That bet requires belief in a major disruption to oil flows within days.
What to watch
Trump’s public statements, any signs of military intervention, and the next round of US-Iran negotiations. A breakthrough or further escalation could move these markets fast.
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What Price Will Wti Hit In April 2026| Contract | Odds | Δ since publish | Volume 24h | |
|---|---|---|---|---|
| April | 1.3% | — | — | Trade → |
| Contract | Odds | Δ since publish | Volume 24h | |
|---|---|---|---|---|
| April | 45% | — | — | Trade → |
| Contract | Odds | Δ since publish | Volume 24h | |
|---|---|---|---|---|
| April 22, 2026 | 16.5% | — | — | Trade → |
| April 30, 2026 | 35.5% | — | — | Trade → |
| May 31, 2026 | 54% | — | — | Trade → |
| June 30, 2026 | 65.5% | — | — | Trade → |
