Bitcoin Slips as Hormuz Tensions Lift Oil and European Gas Prices

  • U.S. forces struck three Iranian oil tankers after Iran targeted two U.S. warships with ballistic missiles.
  • WTI reached $92.72 and Brent $96.89 per barrel, while European gas prices rose above €74 per megawatt-hour.
  • Bitcoin traded near $79,700 as CENTCOM reported 92 redirected vessels, three disabled and two boarded since July 14.

Bitcoin traded near $79,700, down nearly 1% since midnight UTC, as crude prices rose after U.S. forces struck three Iranian oil tankers following Iranian attacks on two U.S. warships. West Texas Intermediate reached $92.72 a barrel, while Brent rose to $96.89, and European natural-gas prices climbed above €74 per megawatt-hour. U.S. Central Command said it had redirected 92 commercial vessels, disabled three and boarded two since its maritime blockade resumed on July 14. Competing estimates of oil flows through the Strait of Hormuz, increased use of disabled AIS transponders and Iran's proposed restricted maritime zone added uncertainty to energy markets. A reported $320 million exploit affecting the Liquid Network and stronger U.S. labor data also weighed on risk appetite by complicating expectations for Federal Reserve policy.

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