Global oil prices jumped 13% after U.S. and Israeli strikes on Iran, which reportedly killed Iran’s Supreme Leader, Ayatollah Ali Khamenei. In response, Iran moved to block the Strait of Hormuz, a key route that carries 20% to 30% of the world’s oil supply. Experts warn that if this route remains closed for a week, crude oil prices could rise even higher, which may indirectly put pressure on the Bitcoin price.
Oil Price Spike 13% After U.S-Israel and Iran Conflict
After the strike on Iran, global oil markets reacted very fast. Iran’s decision to block the Strait of Hormuz raised strong fears about oil supply. Brent crude quickly jumped to $82.37 per barrel, its highest level since January 2025.
When oil prices rise, inflation also goes up. This reduces spending and tightens money in the market. During such times, investors often sell risk assets like stocks and cryptocurrencies.
Financial analysts at Citi said oil prices could rise further if the conflict continues. They expect Brent crude to trade between $80 and $90 per barrel in the coming days.
Oil Tankers Attacked Near Strait of Hormuz
Several oil tankers were hit by missiles near the Strait of Hormuz on Sunday. This narrow sea route handles nearly one-fifth of the world’s oil shipments. Reports also confirmed that missile strikes on oil tankers near the strait killed one crew member.
As tensions grew, more than 200 ships, including oil and gas tankers, stopped and remained anchored in nearby waters.
Even Maersk, the world’s second-largest shipping company, also paused its shipments through the Strait of Hormuz due to the ongoing U.S.–Israel and Iran conflict.
Will Bitcoin price fall if Oil Prices Continue Rising?
Bitcoin has already reacted to the geopolitical shock. On February 28, after the first U.S.-Israel strike on Iran, Bitcoin dropped from $68,000 to near $63,000, losing about 8% in a single day.
Meanwhile, crypto analysts has warn that if the conflict continues for more than a week, Bitcoin price could fall below the key $60,000 level or more.
On the flip side, popular trader Captain Faibik said that if Bitcoin reclaims the $72,000 resistance level, a rally toward $82,000–$83,000 in March is possible.
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