Brent crude has fallen below $72.48 per barrel, a dramatic reversal from the $126 peak three months ago when Iran closed the Strait of Hormuz. A US-Iran interim agreement that reopened the waterway erased the wartime premium swiftly.
Goldman Sachs cut its forecasts to $80 for Q4 2026 and a $75 average for 2027.
The oil collapse triggered a chain reaction: lower energy prices ease inflation fears, making central banks less hawkish and risk assets more attractive. Bitcoin rose around 2% to roughly $65,844, its highest in two weeks, as the market pivoted to risk-on mode.
Investors should watch the pace of oil flow normalization and any shift in central bank rhetoric. Supply logjams could cause short-term volatility, while concrete easing signals would strengthen Bitcoin’s foundation.