Oil-linked futures on Hyperliquid surge 5% after U.S.-Israel strike on Iran

Oil-linked futures on Hyperliquid’s HIP-3 surged after U.S. and Israeli strikes on Iran reignited fears of supply shocks. What to know : Perpetual futures tied to oil prices on decentralized exchange Hyperliquid jumped more than 5% after coordinated U.S. and Israeli missile strikes on Iran. Gold and silver perps also rallied. Iran is not only a major oil producer but also poses a potential maritime threat in the Strait of Hormuz — a critical chokepoint for global oil supply.