'Murban crude oil' surges past $100, posing risk to bitcoin and risk assets

Murban crude oil, a benchmark for oil bypassing the Strait of Hormuz, has surged past $103 per barrel due to geopolitical conflict disrupting major shipping routes. This price action indicates that physical oil accessibility, not just supply, is being priced into the market, suggesting strong immediate demand. This heightened geopolitical risk could soon push other benchmarks like WTI and Brent over $100, potentially rattling global equities and risk assets, including bitcoin. For assets like bitcoin, which rely heavily on fiat liquidity, rising oil prices stoke inflation fears, which could prompt central banks to raise interest rates, thereby tightening liquidity and negatively impacting crypto valuations.

(Source：CoinDesk)