"Vance described the U.S. position as a final and best offer and stated that Iran had not demonstrated a long-term commitment to abandon nuclear weapons development."
"The failure sent the USOIL perpetual contract on Hyperliquid jumping significantly, with screenshots shared on X showing the skyrocketing prices."
"Market researcher Jim Bianco pushed back on the price claims, noting the chart referenced in screenshots was the USO exchange-traded fund, not crude oil futures."
"Brent crude had been trading in the $94 to $99 range amid the fragile ceasefire and Strait of Hormuz concerns before Vance's announcement."
VP JD Vance's negotiations with Iranian officials in Islamabad ended without a deal, as he stated Iran did not show commitment to abandon nuclear weapons. Following the announcement, oil prices surged on Hyperliquid, with the USOIL perpetual contract experiencing significant increases. Market researcher Jim Bianco clarified that the price data circulating was based on the USO ETF, not crude oil futures. Hyperliquid's trading volume reached $1.7B during the conflict, and concerns over the Strait of Hormuz contributed to the volatility in oil prices.
Read at news.bitcoin.com
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