Strait of Hormuz Closure Strands 20% of Global LNG as Bitcoin Falls Below $64,000
Fighting in Iran has closed the Strait of Hormuz, stranding 20% of global LNG supplies and halting at least 11 major tankers. Unlike oil, LNG cannot be easily rerouted, prompting buyers to compete for available cargoes and pushing spot and long-term prices higher. Bitcoin fell below $64,000 following U.S. and Israeli strikes on Iran.