Bitcoin and Oil Surge as Trump Urges Netanyahu to Scale Back Lebanon Strikes

US oil prices have been rising by $1 per hour today.

Bitcoin and oil are on the move again as both assets jumped to their recent local peaks of over $72,000 ans $103 per barrel, respectively.

This came as US President Trump reportedly urged Israel’s leader to tone down the attacks against Lebanon. Recall that reports suggested after this week’s cease-fire between the US and Iran that Israel was not informed initially about the decision, and halting attacks against Lebanon was “not part of the deal.”

However, Walter Bloomberg, alongside several other news reporters and outlets, claimed earlier today that “President Trump called Israeli Prime Minister Benjamin Netanyahu yesterday, urging him to scale back strikes in Lebanon to protect the Iran negotiations.”

Citing a senior official familiar with the matter, the report added that Israel had agreed to be a “helpful partner.”

“The call followed Netanyahu’s pledge to continue aggressive strikes, which Iran warned could end the truce.”

Bitcoin’s price reacted immediately to the news, jumping from $70,500 to over $72,000. The asset rocketed yesterday as well, going from $68,000 to a three-week high of $72,800 before it dipped today toward $70,000.

US oil prices are on the move again. After the shock 20% drop following the cease-fire announcement to $92, USOIL has jumped to over $103 as of press time. The most probable reason for this is that the cease-fire appears very fragile, and the actual number of ships passing through the Strait of Hormuz is a fraction of what it used to be before the war.

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