Oil Surges 10% Toward $100 as President Trump Says Stopping Iran Matters More Than Prices

Oil prices surged more than 10% and were trading near $100 per barrel on the back of heightened fears around the Strait of Hormuz, a vital shipping route for oil tankers, with market commentators warning that control of the strait is precarious and risks further volatility in global energy markets.

“Bitcoin holds $70,000 level as surging oil prices and credit issues have stocks tumbling U”

@coindesk

CoinDesk reported that crude oil prices rose over 10% and were nearing $100 per barrel amid concerns about the Hormuz Strait, and quoted Quinn Thompson saying, “It's becoming clear to everyone that the Strait is far from under control and potentially impossible to control without severe concessions to Iran, boots on the ground, or huge military risks.”

@coindesk

The same coverage emphasized that geopolitical instability in the region has become the primary driver for markets, pushing oil to the centre of investors’ attention.

President Trump framed the crisis as a strategic issue above economic pain, saying “Stopping Iran is of more concern to me than oil prices,” while Iran’s newly prominent leader Mojtaba Khamenei publicly called for the Strait of Hormuz to remain closed in his first statement since appointment, escalating the geopolitical rhetoric and feeding market fears.

CoinDesk directly quoted Trump’s comment and reported Khamenei’s statement, underlining how political declarations from both the U.S. and Iran have amplified the market reaction and added clarity — and risk — to investor calculations.

CoinDesk

The oil-driven shock rippled through equity and credit markets: major indices slid, financial stocks led declines, and private credit strains resurfaced as risk-off sentiment returned.

“Bitcoin holds $70,000 level as surging oil prices and credit issues have stocks tumbling U”

@coindesk

CoinDesk noted that the Nasdaq was near session lows down 1.6% and the S&P 500 was off 1.2%, and reported that Morgan Stanley capped redemptions at its $8 billion North Haven Private Income Fund; shares of Morgan Stanley fell about 4%, while JPMorgan, Citigroup and Wells Fargo were down closer to 3%, and private equity names KKR, Apollo and Ares Management lost 3% to 4%.

The piece added that gold fell 0.6% and the 10-year U.S. Treasury yield rose three basis points to 4.23%, illustrating how the shock affected both risk assets and safe-haven indicators.

Analysts cited oil as the dominant variable reshaping asset prices and noted knock-on effects in crypto markets, where bitcoin showed relative resilience despite broader turmoil; industry voices argued institutions are seeking deeper bitcoin financial infrastructure rather than mere price exposure.

CoinDesk quoted James Butterfill of CoinShares saying oil has become the main driver of crypto prices and noted bitcoin held near the $70,000 level even as geopolitical tensions rose.

CoinDesk

The article also cited Dom Harz describing institutional demand for bitcoin-related financial infrastructure, and referenced Luxor’s estimate that only 8–10% of global Bitcoin hashrate operates in oil-sensitive power markets, suggesting oil shocks affect BTC more via price than mining costs.