This event sits within a fragile global energy market where supply disruptions and geopolitical risk are recurring themes. For crypto, the linkage is indirect but significant: higher oil prices historically correlate with rising inflation, which influences real yields and liquidity conditions. If oil sustains gains, crypto may increasingly be viewed as either an inflation hedge (bullish) or a high-beta risk asset (bearish) depending on the macro regime.

Crude Oil

Oil prices extended gains as traders watched for a potential Iran-Oman deal to reopen the Strait of Hormuz and Houthi militants claimed an attack on a Saudi refinery.

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