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$BTC After a day of relaxing and resting over the weekend, the market trend and expectations still remain influenced by the war. Today, Iran intensified its counterattack against the US and its allies, with an oil tanker attacked in the Strait of Hormuz. As Iran is not fully prepared for a ceasefire, the Middle East has begun reducing oil production, mainly due to disrupted shipping. This is also a reason for the rising oil prices. Just looking at the oil price trend at Friday's close, you can tell a lot.
It seems that the war will be difficult to end in the short term, and it’s just about closing time now. Otherwise, I think oil prices could surge above $100. The potential consequence of rising oil prices is inflation. The expectation of inflation increase is bearish for the overall risk markets. So, it’s very likely that this weekend will look relatively calm, but if there are no signs of the war ending, the market will struggle after CME and US stocks open on Monday.