MWE Correspondent
The Iranian Parliament has officially authorized the closure of vital oil shipping lanes in reaction to recent military strikes by the United States on Iranian nuclear and military sites.
This move risks disrupting global oil supply chains and escalating energy market instability.
In response, the U.S. government urgently urged China — Iran’s major economic partner — to pressure Tehran to keep the Strait of Hormuz open. This narrow waterway is a critical maritime chokepoint where roughly 20% of global crude oil shipments transit daily. Closure or restriction could cause oil prices to spike and send shockwaves through the global economy.
In parallel, Elon Musk has confirmed the debut of Tesla’s Robotaxi service in Texas today. This new autonomous ride-hailing option offers rides at a flat rate of $4.20, marking a significant step toward commercializing self-driving vehicle technology and reshaping urban mobility.
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Meanwhile, the volatile cryptocurrency market has experienced $875 million in liquidations over the past 24 hours amid market fluctuations. Influential Bitcoin investor Michael Saylor hinted at adding more to his holdings, tweeting “Nothing Stops This Orange,” referencing Bitcoin’s iconic orange logo and its resilient growth.
Adding to the momentum, digital asset management firm Metaplanet purchased another 1,111 Bitcoins worth $111 million, bringing their total holdings to 11,111 Bitcoins valued at approximately $1.11 billion — a clear indication of increasing institutional confidence in digital currencies as a long-term investment.
