Oil is described as surging to crisis-level prints amid Hormuz disruption, then dropping on reports of U.S.-Iran ceasefire proposals and talks, making crude a key real-time driver of crypto risk sentiment.
Dated Brent crude oil prices surge to $141/barrel, the highest since the 2008 Financial Crisis.
Oil prices drop over $2 as the U.S. and Iran receive a proposal to end the war and reopen the Strait of Hormuz.
Oil prices pare earlier gains on reports of U.S.-Iran ceasefire talks, with Brent crude easing to $109.77 and U.S. crude at $111.58.
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