Murban crude tops $100, posing risk to bitcoin and risk assets

Murban crude has climbed above $100 a barrel, trading over $103 on Sunday, a stark sign of acute geopolitical stress and supply fears for Middle East oil that can still reach global markets. Since the military conflict between the U.S., Israel and Iran began a week ago, Iran has disrupted flows through the Strait of Hormuz.

Traders are now distinguishing between barrels that are vulnerable at chokepoints and those, like Murban, that can bypass the strait via Fujairah and reach buyers reliably. The premium on prompt Murban cargoes reflects real demand for immediate physical deliveries and shows that accessibility, not just production, is shaping oil valuations.

That pressure could spill into WTI and Brent when markets open, potentially pushing those benchmarks into three figures and rattling equities and risk assets such as bitcoin.

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