Brent Oil Price Rises to $95.33 and Bitcoin Drops by 1.88%

In the past 24 hours, exchanges of attacks between Iran and the United States have turned Middle Eastern risks into the main focus of global trading. Concerns over a reduction in oil flow through the Strait of Hormuz and a 2.6 million barrel drop in U.S. reserves have increased the price of Brent oil by 0.72%, bringing it to $95.33. This rise in energy prices has heightened the likelihood of intensified inflationary pressures and raised expectations for a Federal Reserve interest rate hike in September to about 68%. The yield on U.S. ten-year bonds reached 4.81%, and the dollar index approached 99.79, near its highest level in two weeks. The strengthening dollar and the attractiveness of bonds have reduced demand for riskier assets. Bitcoin's price fell by 1.88% to $77,424, while the price of gold also decreased by 0.86%, trading around $4,312. In the Iranian market, Tether rose by 3% to 214,000 tomans, while the price of 18-carat gold dropped to 22 million and 192 thousand tomans. The continuation of conflicts, the status of oil passage through the Strait of Hormuz, and the upcoming Federal Reserve meeting will be determining factors for market direction in the coming days.

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