U.S. oil prices plunged $15 per barrel in less than two hours after reports that G7 countries are considering releasing 400 million barrels from strategic reserves, triggering volatility across global markets and over $225 million in liquidations across crypto derivatives.
Summary
- U.S. oil prices fell $15 per barrel in under two hours, dropping below $104.
- Crypto derivatives markets saw over $225 million in liquidations, led by Bitcoin and Ethereum.
- Bitcoin remained largely range-bound near the $67K level despite the macro volatility.
The Kobeissi Letter said oil prices initially surged as much as 30% earlier in the day before the news triggered a rapid…
