Oil prices hit highest point since May

Oil prices reached their highest levels since May as the war in Iran continues into its eighth month. International benchmark Brent Crude traded at $116 per barrel, while U.S. benchmark WTI reached approximately $102. Simultaneously, Bitcoin dipped below $81,000 as stocks declined and Brent crude hit its highest level since March. This market shift has placed the 50-day moving average for Bitcoin in focus while energy costs climb due to the prolonged geopolitical conflict.