03/05/2026
Oil is already teasing $90. I don't think the market priced in these Iran strikes correctly initially and now reality is setting in. Price of jet fuel in Singapore has quadrupled almost overnight.
This can potentially cascade into a global energy squeeze. Oil over $125 will start to see some very real pain in the world. Effective inflation rates skyrocket killing liquidity and risk appetite while driving up the cost of everything.
This puts a dent into the recent run on precious metals as the all-in-sustaining-costs of mining will go up, cutting into profit margins.
Energy costs at that level also make bitcoin mining completely unprofitable. It's no secret either the banks want these stablecoins dealt with because they can't stomach competition that offers depositors real interest rates vs. their measly 0.5% a year.
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