Fuel theft is spiking in the U.S. as gasoline prices hit a four-year high, driven by the ongoing war with Iran. The Polymarket contract for crude oil hitting $90 by June sits at
Market reaction
Volume in this market is at $0, with no trades in the past 24 hours. This thin trading environment creates high volatility potential if significant orders arrive. The absence of activity may indicate traders are waiting for clearer signals from figures like Saudi Arabia’s Energy Minister or Russia’s Deputy Prime Minister. The June 30 contract is pricing in persistent supply disruptions from the U.S.-Iran conflict. Although a ceasefire was announced, the Strait of Hormuz remains a bottleneck, keeping oil flows far below pre-war levels.
Why it matters
The April ceasefire has not restored normal oil flows. Damaged infrastructure and restricted supply through the Strait of Hormuz continue to prop up prices, which in turn are driving the spike in fuel theft domestically. A YES share at 15¢ pays $1 if oil hits $90 by June, a
What to watch
Any announcements from OPEC+ on output cuts or EIA updates on global oil supply conditions could swing the odds sharply. The physical state of Strait of Hormuz transit capacity and any escalation (or de-escalation) between the U.S. and Iran are the primary variables.
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