How Oil Supply Could Affect Crypto as Oil Eyes $100 per Barrels

Key Takeaways

The US and Israel launch a new attack on Iran, leading to market uncertainties and a potential rise in the price of crude oil.

Saudi Arabian oil facilities are hit by an explosion from the Iranian government, which could force companies to close down.

Bitcoin and the crypto markets remain uncertain amid political tensions between the US and Iran over the last few days.

The past few days have been filled with geopolitical tension across the world following the US-Israeli mission on Iranian soil, leading to an explosion as a result of an inconclusive agreement on nuclear facilities, which led to the killing of Supreme Leader Ayatollah Ali Khamenei.

In a follow-up strike, interim leader Ayatollah Alireza Arafi was killed, which escalated reaction from the Iranian government as they hit back with missiles and drones at US and Israeli bases, including Gulf allies, including a strike on Saudi Aramco’s major refinery.

While economic uncertainties persist, Oil prices are beginning to spike to the upside amid supply shortages, and refineries in Saudi Arabia are being shut down due to attacks on their facilities.

Oil Prices Could See $100 Target per Barrel

JUST IN: Brent crude oil surges to $82, up over 12%. pic.twitter.com/i1TFuyLF2j
— Whale Insider (@WhaleInsider) March 1, 2026

While many oil refineries in Saudi Arabia are taking a hit from explosives, crude oil is seeing some spikes to the upside following the market open, as Brent crude oil has seen its prices surge by over 9% in the last few hours, trading above $80 per barrel, as the market price could still see more surges.

If market uncertainties and political unrest continue to affect oil facilities in Saudi Arabia and other parts of the world, we could see oil potentially rally to $100 per barrel, as speculation from experts favours the current price being sustained to the upside.

However, while oil continues to see market volatility to the upside, the crypto market remains uncertain whether it will rally or trade lower, as gold, following a recent market rally towards $5,400 per ounce, retraces towards $5,280.

Why $100 Crude Oil is Possible and Impact on Crypto Market

Recent attacks on Saudi Arabian oil facilities, Qatar, and the UAE could lead to a short-term disruption, potentially driving oil prices higher to around $100, according to speculation from Citi and Goldman Sachs analysts.

Historically, during the Gulf and Russian war, crude oil prices rallied sharply to the upside, and history could be repeating itself in the market. However, the reverse has been the case for Bitcoin and the broader market, as the market experienced a sharp decline on Saturday, February 28, 2026, with a significant crash to the downside.

Following the opening of a new trading week and month, Bitcoin has shown a strong market rebound, trading above $69,000 after falling towards $63,000 following the US and Israeli attacks on Iran.

The cryptocurrency market remains uncertain following a major market crash in the last few months prior to political rest, as crypto experts speculate the market could see further dumping before an upside pump.

Overall, institutions and whales are focused on oil trading, as current events and uncertainties favour the market asset, potentially driving it towards $100 per barrel.

FAQs

Will the Iran War affect crypto?

The crypto market has experienced a crash in the last few hours amid the US-Iran war, as US President Donald Trump hints at a combat operation. The crypto market could see a significant crash on Monday when it opens.

How will markets react to the US attack on Iran?

Expectations are that the crypto market and Bitcoin could see a market crash; however, there is a high possibility that Oil and metals such as Gold and Silver will perform well in the coming days.

Does war affect the crypto market?

Historical data show wars such as the Russian-Ukrainian and Israel-Iran have led to market crashes of over 40% and 20%, respectively, and could trigger a similar reaction.