#BrentHits$110ForFirstTimeSinceMay
đąïž Oil Breaks $110 as Hormuz Attacks Escalate
đ Brent touched $110 on Friday, settling at $109.86 (+3.7%), highest since May 19
đșđž WTI closed at $101.41. This week Brent is up 4.9% and WTI 10.4%
â ïž At least 9 ships have been attacked near the Strait of Hormuz since Sunday
đ Hormuz crude flows are down to about 70% of pre-war levels (Kpler)
đșđŠ Ukraine resumed strikes on Russian refineries after the energy ceasefire collapsed
✠US diesel averages $6.33 a gallon, over 70% above a year ago (AAA)
What it means for crypto: pricier oil feeds inflation right before the Fed's Oct 27-28 meeting, which can weigh on risk assets. $BTC sits near $81.6K and $ETH dipped under $2,400 overnight. A de-escalation could flip the mood just as fast.
Is oil now the biggest macro risk for Bitcoin? đ
$BTC $ETH
#BrentHits$110ForFirstTimeSinceMay #CryptoNews #Oil #Macro
đąïž Oil Breaks $110 as Hormuz Attacks Escalate
đ Brent touched $110 on Friday, settling at $109.86 (+3.7%), highest since May 19
đșđž WTI closed at $101.41. This week Brent is up 4.9% and WTI 10.4%
â ïž At least 9 ships have been attacked near the Strait of Hormuz since Sunday
đ Hormuz crude flows are down to about 70% of pre-war levels (Kpler)
đșđŠ Ukraine resumed strikes on Russian refineries after the energy ceasefire collapsed
✠US diesel averages $6.33 a gallon, over 70% above a year ago (AAA)
What it means for crypto: pricier oil feeds inflation right before the Fed's Oct 27-28 meeting, which can weigh on risk assets. $BTC sits near $81.6K and $ETH dipped under $2,400 overnight. A de-escalation could flip the mood just as fast.
Is oil now the biggest macro risk for Bitcoin? đ
$BTC $ETH
#BrentHits$110ForFirstTimeSinceMay #CryptoNews #Oil #Macro