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Oil prices jump after U.S. and Iran exchange fire in Strait of Hormuz

financeMay 8, 2026321,990

U.S. and Iranian naval forces exchanged fire in the Strait of Hormuz, and Brent crude prices climbed as markets reacted to the clashes near the critical shipping route. The February 2026 outbreak of the Iran war has already disrupted oil trade and pushed global oil prices and inflationary pressure higher. The Strait of Hormuz channels about 20 percent of seaborne oil, so any escalation threatens physical shipments and could further tighten global supply. Higher oil and fuel costs feed into consumer prices, increase fiscal stress for governments, and raise shipping costs for businesses worldwide.

Mark Chadbourn
@chadbourn.bsky.social

Russia levels of corruption. “According to our analysis, ~$920 million worth of crude oil shorts were taken 70 minutes before an Axios report claimed the US and Iran were near a "14-point" deal to end the war.” The Kobeissi Letter, analysts of global capital markets. The shorts gained $125m.

621Yesterday
Granuailynn12

Gee, wonder who in American govt & business would have access to understanding & implementing Russia levels of corruption?🤔 That's a mind bender, I tell ya!😒

Renee Babcock6

Might be time to start looking at bank accounts of the inner circle to see who suddenly has large deposits on the dates these announcements are happening. It should be a relatively small number of people.

Seán Miller6

Why is this so hard to trace back to a person or entity. Am I led to believe that the IRS wouldn't be interested in getting their share of the $125mil. And if this is illegal then shouldn't the SEC be investigating it? If neither are investigating then I guess we know who's responsible.

lgotts.bsky.social6

So there clearly are only a handful of folks with access to such info in advance. At some point, patterns may emerge and identification may be possible. I can’t wait….

aka Uncle Cracker4

Bet your ass that Axios principals got a taste of that sweet action as well!

Dave Antarctica3

Markets look like 1928 at this moment

Michele2

If this doesn’t spark a revolution to rid us of these corrupt greedy twats, nothing will. While Americans are going bankrupt everyday because of illness, these conmen are coining it in

Graham Cox2

Let's be honest, I We couldve all done the same. The markets are clearly being played. Every couple of days theres a game changing statement or action

𝕃𝕒𝕦𝕣𝕖𝕟𝕔𝕖𝕄2

Who are the ones losing here ? The illicit gains aren’t coming out of thin air - some others must be being hit badly …

Tonezib2

Where's the SEC! Corrupted too.

MayhemMel!2

Not all is well in Russia

jackmom.bsky.social2

Why not Russia? Maybe Donald is paying back Putin for both elections

Eric Lussier2

Tomorrow will bring another scandal and the US people will continue 😴

Kai [I am an extraordinarily brilliant person] Kronfield2

They learned/are learning from the best. I don’t think all those phone calls with Putin are just them exchanging niceties.

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