Oman withdraws ships to avoid risk, oil prices break above $100, Bitcoin drops back to 69K

Recently, escalating geopolitical conflicts in the Middle East have posed severe challenges to the international energy markets. Due to an attack on a oil tanker in Iraqi waters, Oman has evacuated all vessels from its main oil export ports for safety reasons. Brent crude futures rose over 9% in a single day, breaking through $100 per barrel, while WTI crude also increased by more than 6%, reaching above $94. At the same time, Asian stock markets faced downward pressure, with the Nikkei 225 down 1.55%, the KOSPI down 1.25%, and Taiwan’s Weighted Index down 1.64%. Bitcoin also fell below the $70,000 mark, trading at $69,550.

Oman evacuates ships for safety, IEA releases strategic reserves unable to stabilize

Recently, escalating geopolitical conflicts in the Middle East have posed severe challenges to the international energy markets. Due to an attack on a oil tanker in Iraqi waters, Oman has evacuated all vessels from its main oil export ports for safety reasons.

Although the International Energy Agency (IEA) has coordinated member countries to release up to 400 million barrels of strategic petroleum reserves, a record high. However, the global daily oil consumption slightly exceeds 100 million barrels, and the Strait of Hormuz, affected by Middle Eastern conflicts, accounts for about one-fifth of global supply (around 20 million barrels per day). This means that releasing large quantities of reserves can only provide short-term buffer, and cannot fundamentally address the “structural supply gap” caused by blocked key shipping routes.

Brent crude surpasses $100, Asian stocks decline, Bitcoin drops to 69K

As the war enters its 13th day, concerns over oil supply are intensifying. Due to blocked shipping lanes, major oil-producing countries are reducing production. Oman and Iraq have respectively evacuated or suspended operations at oil terminals, indicating that physical risks to Middle Eastern energy assets are spreading.

Brent crude futures rose over 9% in a single day, breaking through $100 per barrel, while WTI crude increased by more than 6%, reaching above $94.

Meanwhile, Asian stock markets faced downward pressure, with the Nikkei 225 down 1.55%, the KOSPI down 1.25%, and Taiwan’s Weighted Index down 1.64%. Bitcoin also fell below the $70,000 threshold, trading at $69,550.

This article “Oman evacuates ships for safety, oil prices break $100, Bitcoin falls to 69K” first appeared on Chain News ABMedia.