Why did oil prices move above $100 again?

Oil prices rose as tensions between the US and Iran increased around stalled ceasefire negotiations and the Strait of Hormuz. Traders remain concerned that disruption to shipping routes could tighten global oil supply further.

Why is the Strait of Hormuz so important to global markets?

The Strait of Hormuz is one of the world’s most critical energy shipping routes because roughly 20% to 30% of global seaborne oil trade normally passes through it. Any disruption in the corridor can quickly affect oil prices, shipping costs and inflation expectations worldwide.

What did Donald Trump say about Iran?

Donald Trump warned Iran that its “clock is ticking” following discussions with Israeli Prime Minister Benjamin Netanyahu. Reports also suggested the White House may review military options if negotiations fail.

Why did Bitcoin fall below $77,000?

Bitcoin weakened as investors reduced exposure to risk assets during rising geopolitical uncertainty. Crypto markets often react negatively when traders move capital toward safer assets such as oil, gold or US Treasuries.

How did other cryptocurrencies perform during the market pullback?

Ethereum, Solana and XRP also traded lower alongside Bitcoin. The broader crypto market reflected weaker risk appetite across global financial markets.

What are oil perpetual contracts on Hyperliquid?

Hyperliquid offers perpetual futures contracts tied to oil prices, allowing traders to speculate on WTI and Brent crude around the clock. Unlike traditional futures markets, crypto-based perpetuals can trade continuously without exchange-hour restrictions.

Why is Hyperliquid’s HYPE token rising during market volatility?

Hyperliquid gained value as trading activity on Hyperliquid’s oil perpetual markets increased sharply. Higher trading volumes and open interest can boost demand for exchange-related tokens tied to platform usage.

How does geopolitical conflict affect crypto markets?

Geopolitical crises can increase volatility because investors reassess economic risks, inflation pressures and global liquidity conditions. In some cases, traders move away from speculative assets like crypto and into perceived safe havens.

Cryptocurrency

Image for illustrative purposes only. Not a real photo.

Oil tops $100 as Bitcoin slips amid Iran tensions

Written by Heidi Cuthbert Published May 18, 2026, 1:53 AM

Oil prices remained elevated above $100 after Donald Trump issued a warning to Iran following renewed tensions surrounding ceasefire negotiations and the Strait of Hormuz.

Trump wrote on Truth Social that Iran’s “clock is ticking” after speaking with Israeli Prime Minister Benjamin Netanyahu, while reports indicated the White House may review additional military options if negotiations fail.

On Hyperliquid, WTI oil perpetual contracts traded above $102 while Brent oil perpetuals moved beyond $106, with combined open interest exceeding $481 million as traders reacted to geopolitical volatility.

The Strait of Hormuz remains central to global energy markets because the shipping route normally handles roughly 20% to 30% of global seaborne oil trade, although traffic through the corridor has reportedly declined significantly since conflict escalation earlier this year.

Bitcoin fell to an intraday low near $76,690 before recovering slightly toward $77,000, while Ethereum, Solana and XRP also traded lower during the broader market pullback.

Meanwhile, Hyperliquid rose more than 8% over 24 hours as traders increased activity on Hyperliquid’s oil perpetual markets, which have gained traction in 2026 by offering around-the-clock exposure to energy prices.

Markets continue monitoring whether diplomatic negotiations can stabilise shipping activity through Hormuz, with traders closely watching energy prices, military developments and risk sentiment across both traditional and crypto markets.

At the time of reporting, Bitcoin price was $76,786.69.