Oil Extends Fall After Saudi Exports Surge: Why Are Bitcoin and Gold Rallying?

Oil prices extended their decline as Saudi exports surged back through the reopened Strait of Hormuz, with WTI falling below $68 for the first time in 125 days. Four Bahri supertankers reportedly carried about 8 million barrels out of the Gulf, signaling a rapid recovery in Saudi flows toward pre-war levels. The easing of supply fears removed much of oil’s geopolitical risk premium. In contrast, Bitcoin rose more than 5% to above $61,500 and gold held above $4,000, reflecting a shift toward risk assets and continued demand for hedges against inflation and geopolitical uncertainty. The article frames the moves as a market response to lower energy costs, improving risk sentiment, and lingering concern that the truce in the region could still prove fragile.