The crypto market update oil prices Iran war bitcoin impact news today is being written by an energy market in freefall: US crude surged above $115 per barrel and Brent crossed $111 after Tuesday’s Kharg Island strikes, the IEA’s head declared the Hormuz oil shock worse than the crises of 1973, 1979, and 2022 combined, and the chain connecting oil prices to Bitcoin has never been tighter or more punishing.
Summary
- US crude oil surged above $115 per barrel following Tuesday’s Kharg Island strikes, with Brent crude above $111; gas prices in Los Angeles crossed $6 per gallon, and the national US average has reached $4.14, up from $2.98 before the war began
- IEA Executive Director…
