Oil prices are going crazy! WTI jumped 4% in one go, and Brent surged 3.83% as well—it's all because of what’s happening with the Strait of Hormuz. Iran is being tough this time, openly saying it will ban U.S. and Israeli ships from passing through. Global oil supply risk instantly spiked.
Even more bizarre: U.S. imports of crude oil from Saudi Arabia in July reportedly went to zero! This is the first full-month interruption in more than 40 years, and refineries now have to scramble for alternative supplies. The situation in the Middle East keeps escalating—Houthi forces and Iran’s Islamic Revolutionary Guard Corps are stirring up trouble, and reports even say Trump’s missile stockpiles are running low.
On top of that, the macro picture isn’t quiet either. There are reports that if inflation data comes in strong enough, the Fed may raise rates again in September. These days, everything seems to happen all at once—oil up, conflict, and rate-hike expectations all flying together. The crypto market probably has to shake three times. <$BTC > and the broader-market tokens may be forced to ride another rollercoaster driven by macro sentiment.
#Crypto #Bitcoin #Oil #Macro #DeFi
NFA DYOR
Even more bizarre: U.S. imports of crude oil from Saudi Arabia in July reportedly went to zero! This is the first full-month interruption in more than 40 years, and refineries now have to scramble for alternative supplies. The situation in the Middle East keeps escalating—Houthi forces and Iran’s Islamic Revolutionary Guard Corps are stirring up trouble, and reports even say Trump’s missile stockpiles are running low.
On top of that, the macro picture isn’t quiet either. There are reports that if inflation data comes in strong enough, the Fed may raise rates again in September. These days, everything seems to happen all at once—oil up, conflict, and rate-hike expectations all flying together. The crypto market probably has to shake three times. <$BTC > and the broader-market tokens may be forced to ride another rollercoaster driven by macro sentiment.
#Crypto #Bitcoin #Oil #Macro #DeFi
NFA DYOR