Oil Prices Surge as Iran Attacks US Base

A surprise attack by Iran on a US base in Jordan has sent oil prices rebounding sharply. According to reports, multiple ballistic missiles were fired at the base, but all were intercepted. This marks the first Iranian missile attack on a regional US base since the US paused strikes last Friday.

The collapse of the informal ceasefire has lifted the geopolitical risk premium, reigniting near-term supply concerns and intensifying the inflation-policy expectation tug-of-war. WTI crude rebounded more than 3%, driving oil prices higher.

On the cryptocurrency front, Bitcoin (BTC) rose 0.93% to $63,962, while Ethereum (ETH) surged 2.31% to $1,917. The total crypto market cap increased by 0.4% to around $2.28 trillion.