WTI $115 by June — Hormuz Risk Makes This Near-Certain

WTI crude hitting $115 by end of June is priced at 92¢ (+9¢ today), and the $120 target sits at 85¢. USO already surged 12% today. With Kharg Island strike probability rising, Hormuz traffic disruption risk real, and US military operations active, the oil supply shock thesis is the dominant macro trade of the moment. The Kalshi Apr 7 settlement above $105 at 92¢ is a near-term confirmation trade for the broader June thesis.