Buy Crypto
Pay with
USD
USD
Buy & Sell
Hot
Supports Visa, Mastercard, SEPA & more
P2P
0 Fees
Flexible trading, zero fees
Gate Card
Use your crypto for payments worldwide
Markets
Trade
Basic
Advanced
Futures
Futures
Access hundreds of perpetual contracts
CFD
Gold
One platform for global traditional assets
Options
Hot
Trade European-style vanilla options
Unified Account
Maximize your capital efficiency
Demo Trading
Introduction to Futures Trading
Learn the basics of futures trading
Futures Events
Join events to earn rewards
Demo Trading
Use virtual funds to practice risk-free trading
Stocks
CFD
U.S. stock CFD derivatives
US Stocks
Access real US stocks and ETFs
HK Stocks
Trade quality Hong Kong-listed stocks
Stock Futures
High leverage, 24/7 trading
Tokenized Stocks
Backed by real stock assets
IPO Access
Unlock full access to global stock IPOs
GUSD
Mint GUSD for Treasury RWA yields
Stocks Activities
Trade Popular Stocks and Unlock Generous Airdrops
Earn
Launch
CandyDrop
Collect candies to earn airdrops
Launchpool
Quick staking, earn potential new tokens
HODLer Airdrop
Hold GT and get massive airdrops for free
IPO Access
Unlock full access to global stock IPOs
Alpha Points
Trade on-chain assets and earn airdrops
Futures Points
Earn futures points and claim airdrop rewards
Investment
Square
Square
Post, share, and explore crypto trends
Live
moments live
Live crypto market analysis
Chat
Chat with crypto traders
News
What is happening in crypto
flower_head
More
Promotions
AI
Others
TradFi
2026 World Cup
Rewards

WTI Crude Oil Surges Above $108 on Thursday, Up 15% This Week as Strait of Hormuz Faces Effective Closure

GateNews
Commodities
CL0.54%
On Thursday (May 7), WTI crude oil futures surged above $108 per barrel, up nearly 15% this week, as ongoing Middle East conflict has effectively closed the Strait of Hormuz, disrupting major global energy flows. U.S. President Trump stated that the United States will maintain a naval blockade on Iran until a nuclear agreement is reached. U.S. crude and fuel inventories declined significantly while exports surged to a record high of over 6 million barrels per day, reflecting tightening global supply conditions. Iran's authorities warned of retaliatory measures if the blockade continues.
View Source
Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.

Related News

05-10 03:52
WTI Crude Surges 8% to $90 Per Barrel on Monday Amid Middle East Escalation
05-10 03:52
Brent Crude Falls to $98 per Barrel on Friday as Trump Signals Iran Nuclear Deal Progress
05-09 17:02
Fitch Forecasts Brent Crude at $100–$110 per Barrel Through July, Declining to $70 by September Amid Strait of Hormuz Blockade
05-09 03:52
U.S. Gasoline Futures Fall Below $3.60 as Middle East Tensions Ease
05-09 03:52
WTI Crude Surges to $108/Barrel, Up 15% This Week as Strait of Hormuz Closure Tightens Supply
In-Depth Analysis

Geopolitics and the Crypto Market: How the U.S.-Iran Hormuz Strait game is affecting Bitcoin’s price movement

Gate Instant Trends05-09 08:23

Wall Street “NACHO trade” replaces TACO, the Hormuz crisis boosts oil prices

Market Whisper05-09 02:52

A U.S.-Iran peace memorandum has been released? Oil prices plunge, U.S. stocks hit new highs, and Bitcoin rises to $82K

ChainNewsAbmedia05-07 00:35
Comment
0/400
No comments