OIL SURGES ABOVE $90 AS US-IRAN MILITARY CONFLICT ESCALATES — CRYPTO SELLOFF DEEPENS

$ETH ‌

Oil prices are spiking again as geopolitical tensions in the Middle East reach a new boiling point.

What happened over the weekend:

· U.S. forces struck Iranian rocket launch sites on Larak Island near the Strait of Hormuz
· Iran retaliated with strikes on a U.S. military base in Jordan
· AP reported the attacks on August 30

The market impact:

· Brent crude: +1.9% to $89.79/barrel
· WTI crude: +1.8% to $84.94/barrel
· Asian markets: Japan's Nikkei -1.7%, Korea's Kospi -1.9%

Higher oil prices fuel inflation fears, keeping rate-cut hopes at bay — pressuring all risk assets, including crypto .

What's next: The Strait of Hormuz remains a key chokepoint. Any further escalation could push oil toward $100/barrel and trigger additional risk-off moves.

👇 Do you think oil will hit $100 this week? Type YES or NO.
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