Gate News reports that on March 9, Monday, during the Asian trading session, WTI crude oil (West Texas Intermediate) prices rose to $119 per barrel, reaching a new high since Russia’s invasion of Ukraine in 2022. Iraq warned that due to threats from Iran against oil tankers in the Strait of Hormuz, approximately 3 million barrels of daily global oil production could be affected. Data from The Kobeissi Letter shows that the global daily oil supply loss is nearly 20 million barrels. Bitcoin price remains around $67,000, with no signs of panic selling. On the technical side, BTC/USD recorded its first positive weekly candle in seven weeks and formed an inverted hammer pattern. Data from Polymarket indicates a roughly 99% chance that the Federal Reserve will keep interest rates unchanged on March 18, with about a 27% chance of a 25 basis point rate cut. (Cointelegraph)
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