Oil prices are going crazy, and the Middle East fire keeps burning hotter Talks between Iran and Gulf countries have been postponed, and Saudi Arabia's main oil pipeline was attacked and shut down. Brent crude is currently above $108. Little Dragon's perspective: Triple-digit oil prices are a result of structural pressure. High oil prices continue to feed into inflation, making it hard for rate hike expectations to cool down. BTC is still under macro pressure. The early bull market structure remains intact, but a full breakout has been delayed.