Escalation in the Iran–U.S. Conflict: Spot price of Brent crude oil exceeds $140 — a double test for the crypto industry: inflation and flight to quality

Summary

On April 3, 2026, the U.S. and its allies carried out bombing strikes on key Iranian infrastructure, which led to retaliatory actions by Iranian military forces and attacks on relevant facilities. As a result, global oil prices surged sharply. The rise in energy prices strengthened inflation expectations in different countries, creating pressure on crypto assets and other risky assets, while digital infrastructure faced even greater vulnerabilities. The cost of mining Bitcoin increased, and changes in the market’s demand for safe-haven assets are worth noting.

On April 3, 2026, the U.S. and Israel struck the Iranian city of Karadja on the Bayk Highway, targeting the Beik Bridge, which is a landmark transportation infrastructure in Iran. After that, the Islamic Revolutionary Guard Corps of Iran immediately launched a military response, “Round 90 of the True Promise,” striking U.S.-linked metallurgical industry targets and announcing an expansion of the circle of targets. Brent crude for near-term delivery surpassed $140 per barrel, setting the highest level since 2008; the WTI oil futures price rose above $110 for the first time since 2022. An agreement on passage through the Strait of Hormuz is being prepared, and the global energy market—as well as the digital-asset industry—faces double structural pressure, both on the cost line and on the flight-to-safety line.