Global tensions roil oil prices in wild swings

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6 hours ago

Global tensions roil oil prices in wild swings originally appeared on TheStreet.
The ongoing Israel-Iran conflict has led to significant volatility in the markets, with oil and Bitcoin among the assets most affected.
When the conflict began on June 13, it led to a significant surge in oil prices. But come June 17, and all gains have been erased. Oil, which was trading north of $75 on June 13, was quoted at $69.77 at press time.
Bitcoin, on the other hand, began declining in value as the conflict began and immediately hit as low as approximately $103,000. However, it has risen more than 3% within 24 hours and was trading at $108,836.65 at press time.
Wall Street veteran Jordi Visser, who holds 30 years of professional experience, sat down with popular crypto host Anthony Pompliano and discussed the price dynamics of these two assets.
Every time there has been a war in the world, the immediate reaction is like what we have seen so far, Visser said. It holds particularly true when the conflict is in the Middle East or Russia, he added.
Bitcoin, Visser argued, is always going to be related to the economy — especially the digital economy — at the end of the day. Bitcoin is going to be part stocks and part get-away-from-the-governments, so it's never a geopolitical hedge, according to Visser.
The analyst also referenced the Russia-Ukraine war, which he said didn't make such an impact on the markets, unlike what people would like to believe.
Such conflicts usually end up being major events for the first few days before flaming out as long as there are no significant escalations, Visser said. Therefore, these events normally don't have a long-term impact, he added.
Global tensions roil oil prices in wild swings first appeared on TheStreet on Jun 16, 2025
This story was originally reported by TheStreet on Jun 16, 2025, where it first appeared.