Hyperliquid oil perps surge 7% after Trump orders naval blockade of Strait of Hormuz

- President Trump announced an immediate naval blockade of the Strait of Hormuz after peace talks with Iran collapsed, with JD Vance unable to reach agreement during negotiations - Oil perpetual contracts on Hyperliquid jumped 7% on the news, continuing the platform's emergence as a major venue for commodity derivatives with $1.2B+ in daily WTI-linked volume and $1.43B in total open interest - The blockade aims to cut off Iran's oil exports, threatening to worsen global fuel shortages; oil has already surged over 30% in recent weeks to the $110-$120/barrel range amid the broader Hormuz crisis - Crypto risk assets moved in the opposite direction, with BTC falling ~2.7% to ~$70,800 and ETH dropping ~2.8% to ~$2,180

TLDR by @Benthic

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