Iran's politicians leaned in favor of blocking the strategically important Strait of Hormuz on Sunday in response to the US military strikes on the Iranian nuclear facilities, according to Saeed Azimi, Tehran correspondent for France 24.

"The MPs have unanimously reached this conclusion merely in a consultation capacity. The decision lies with the Supreme National Security Council," Azimi said on X, responding to several media reports, including Al Arabia, that the Parliament has approved the closure.

The Strait, a key global oil shipping route, accounts for one-fifth of the world's oil trade. Thus, the closure of the route is likely to send oil prices skyward, possibly into three figures, bolstering stagflation fears in oil-importing trade deficit nations like the U.S.

Analysts expect Brent and WTI crude prices to open significantly higher on Monday, pricing a potential supply squeeze.

In the meantime, an obscure token called the digital oil memecoin (OIL) has skyrocketed over 400% against USD, according to data source DEXTools.io. The token is listed on the Solana-based decentralized exchange Raydium.

"Fading the most geopolitically advantaged memecoin AND the ONLY coin endorsed by Peter Schiff himself? COULDN'T BE ME.... $OIL," an X handle supposedly associated with the memecoin, said on the social media platform.

The token came into existence early this year after vocal cryptocurrency and bitcoin critic Peter Schiff published a post on X supporting the idea of creating a digital oil.

免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。