Crude oil and risk assets moved in opposite directions ahead of Wednesday’s Federal Reserve rate decision, with Brent rising 2.75% to $107.48 and West Texas Intermediate gaining 2.51% to $102.56. Saudi Arabia’s East-West pipeline was shut late last week after drones launched from Iraq damaged the route, which allows exports to bypass the Strait of Hormuz. Reuters reported the outage threatens up to 4% of global oil supply. Additional Houthi attacks in Saudi Arabia and against a vessel in Hormuz added to supply concerns, while the Houthis reached Yemen’s Perim island on Friday, tightening control over Bab el-Mandeb, a corridor carrying 4% to 5% of global supply. Crude rose 8% during the week and moved above $100 for the first time since July, extending a rally that began that month. Crypto and metals declined as markets focused on monetary policy. Total crypto market capitalization fell 4.32% to $2.62 trillion over 24 hours, Bitcoin traded near $76,718 after a 4.4% weekly decline, and Ethereum fell 1.79% to $2,478.43. Gold slipped 0.22% to $4,340.58, silver lost 0.25% to $64.11, and copper dropped 1.08% to $6.40. Hotter-than-expected U.S. inflation lifted the market-implied probability of a Federal Reserve target increase to 86.3%, from 59.4% a week earlier and 33.9% a month earlier. The Fed’s decision will help determine whether oil remains driven by supply headlines while crypto and metals remain focused on interest rates. Market analyst Tony Sycamore of IG said crude could continue toward the $119.48 high recorded in early March unless talks in Oman produce an operational outcome. Gulf states and Iran had planned to meet in Oman on Monday, but Omani Foreign Minister Badr Albusaidi said the meeting was postponed.