Brent crude has surged past $120 per barrel following the Strait of Hormuz closure, but the Polymarket contract for WTI Crude Oil hitting $160 in April sits at 0% YES, reflecting zero expectation of further price escalation to that level. Market reaction The Hormuz closure cut off 20% of global oil supplies and pushed prices higher, but the market sees no path to $160 within seven days. China’s energy security strategy, which has diversified sources beyond Iran, limits the immediate risk of another leg up. Trading volume on the WTI…
Brent crude tops $120 as Hormuz closure cuts supply, no path to $160 WTI
