Bitcoin slips below $80,000 as Houthi attacks push oil toward $100

  • Iran-backed Houthi forces attacked Abha, Jazan, Najran and Khamis Mushait in southern Saudi Arabia, disrupting energy facilities and injuring 73 people, according to Saudi authorities.
  • Brent reached about $100-$101 and WTI approached $95; U.S. gasoline averaged $4.15 a gallon, diesel $5.90 and distillate inventories fell to 19.3 million barrels.
  • Bitcoin traded near $78,300 as investors assessed oil-driven inflation risks, August employment data and the Federal Reserve's September 15-16 meeting.

Bitcoin fell below $80,000 after Yemen's Iran-backed Houthi movement attacked four Saudi cities and energy facilities, pushing crude prices toward $100 a barrel and raising concerns about broader Gulf supply disruptions. BTC traded near $78,300, down 1.52% in 24 hours but up 20% over 30 days, while TradingView data later showed a low near $77,600, its lowest level since September 3. Brent futures reached $99.46 and spot Brent touched $101, with other intraday reports placing Brent above $100 before it traded near $98-$99 and WTI around $93-$95. Saudi Arabia halted operations at some facilities, including the Jazan refinery, although the effect on production remained unclear. Slower traffic through the Strait of Hormuz and continued Red Sea shipping attacks added to supply risks, while stronger-than-expected August payrolls and potentially higher energy prices complicated the Federal Reserve's September 15-16 policy decision.

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