Brent crude has fallen to around $87 per barrel after reaching $100 to $120 earlier this year, with the Strait of Hormuz closure removing 11 to 14 million barrels per day from global trade, representing 14% to 20% of oil exchanges. The US Energy Information Administration forecasts inventory builds of 2.7 million barrels per day in Q4 2026 and 5.0 million in 2027, which could push Brent down to $70 by year-end and $65 next year. During the crisis, Bitcoin, Ethereum, and Solana experienced significant risk-off selling, with the trade reversing as de-escalation news emerged. The US Treasury expanded sanctions in July 2026 targeting not only Iranian oil infrastructure but also cryptocurrency wallets used to circumvent financial restrictions.
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