Bankless · Friday, July 24, 2026
Oil prices have surged to $100 per barrel, marking a 40% increase in just 20 days, driven by renewed tensions around the Strait of Hormuz. This development has contributed to a significant downturn in traditional finance markets, with the SPY experiencing a notable decline.
“But big news, $100 oil is back. It's up 40% in 20 days as renewed tensions over around the Strait of Hormuz.”
“And that is sending the SPY spiraling. It's been a bad week in the TradFi markets, Ryan, but an okay week in crypto.”