Two markets moved in opposite directions on the same headline. As the United States and Iran confirmed a peace deal to end their nearly four-month war and reopen the Strait of Hormuz, crude oil tumbled to a three-month low — while Bitcoin and the entire top 10 crypto market posted a green week. The reason is the same for both: the single biggest geopolitical risk premium weighing on global markets is finally unwinding.
Here's the full breakdown of the oil crash, the latest US–Iran war developments, and how the top 10 cryptocurrencies performed over the past 7 days.
Oil Crashes to a Three-Month Low
The de-escalation hit energy markets hard. US crude oil closed down 4.8% to $80.75 per barrel, while international Brent crude fell 4.7% to $83.17 — the lowest closing prices for both benchmarks since the first week of March, right after the war began.
The slide was not a one-day event. Oil had already tumbled more than 6% over the prior week in anticipation of an agreement, meaning the market front-ran the news before the official confirmation even landed. Heating oil, a proxy for jet fuel, dropped more than 3.5%, and wholesale gasoline fell more than 2.5%.
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