US President Donald Trump's address on the Iran conflict has caused a significant impact on global markets. Crude oil prices have surged above $103 per barrel, driven by fears of further escalation and supply disruptions. The US military campaign, codenamed 'Operation Epic Fury', is reportedly nearing its final stages.
The White House announced that US strikes have effectively 'flattened' Iran's naval and drone capabilities, pushing the operation into what they call its final stage. President Trump reaffirmed plans to achieve military targets within 2-3 weeks, which could lead to further price increases for crude oil.
However, Bitcoin has dropped 2% to around $66,904 due to geopolitical uncertainty. As a perceived safe-haven asset, investors often turn to traditional assets during times of crisis. The US President's address has created a volatile environment for traders, leading to fluctuations in both oil and cryptocurrency markets.