Oil Price Surge Triggers Crypto Market Concerns

The oil price jumped sharply on September 28 as Brent futures rose $2.60 to $106.92 a barrel, while West Texas Intermediate crude gained $2.08 to $94.49.

The increase followed President Donald Trump's rejection of an Iranian proposal aimed at resolving the conflict around the Strait of Hormuz and reopening the waterway to shipping.

Analysts suggest that a prolonged energy disruption could revive inflation pressure, push Treasury yields higher, delay monetary easing, and force investors to cut risk and leverage across asset classes, including crypto.

Preliminary data from Kpler showed Middle East crude exports rebounding to 12.8 million barrels per day in September, the highest since the war began in February.