Gulf Nations Cut Oil Output by 6.7M Barrels/Day as Strait of Hormuz Shuts Down



Strait of Hormuz is shut down. Tanker traffic near zero since March 2.

Saudi Arabia, Iraq, UAE and Kuwait forced to slash production as storage fills up. That is 6% of global oil supply gone.

Oil spiked to $119, now trading around $85-88 after Trump hinted at taking over the strait.

US gas prices up 51 cents in just one week. This is the largest oil supply disruption in history.

Crypto Impact:
→ Higher oil = sticky inflation = no rate cuts
→ Risk-off pressure across all markets
→ Bitcoin geopolitical hedge narrative growing
→ Watch DXY and bond yields

If the strait stays closed, oil could hit $135. The entire 2026 macro game changes.
BTC1,53%
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