Hormuz Flows Hit Six-Month High: Crude Slides a Fourth Day, Gold Dips, Bitcoin Holds $81K
Brent crude fell about 1.8% to near $102 on Monday, a fourth straight losing session, as oil and LNG flows through the Strait of Hormuz reached a six-month high. Gold eased 0.6% to around $4,355 an ounce, while bitcoin held above $81,000 as US-China trade talks lifted risk appetite.
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Saudi Arabia is rerouting exports via Hormuz while it repairs its drone-hit East-West pipeline, and weekend Houthi strikes failed to lift prices. Gold faces a US 10-year real yield of 2.67%, a 20-year-plus high, after last week's Fed hike. Spot bitcoin ETFs drew about $433M on Friday.