Saudi Aramco CEO Amin Nasser issued a stark warning on May 10: disruption at the Strait of Hormuz could remove 100 million barrels of oil from global supply each week. The waterway, which carries roughly 20% of the world's oil, has seen vessel traffic collapse from over 20 ships per day to just 2-5, driven by escalating US-Iran tensions.
Morgan Stanley has projected oil prices could surge to $110 per barrel if the crisis persists. Dallas Fed surveys indicate energy executives expect disruptions to continue until at least August 2026.
For Bitcoin miners, sustained high oil prices mean higher electricity costs, squeezing profitability. Inflationary pressure from elevated energy costs also complicates the Federal Reserve's ability to cut interest rates, which could reduce capital flowing into risk assets like cryptocurrencies.