Bitcoin quickly pulls back to $72,300 as Iran fears team up with poor U.S. inflation data

The price of oil moved higher after reported attacks against Iran's South Pars gas field. What to know : Trading around $74,000 for much of the last 24 hours, bitcoin quickly fell back to $72,500 following reports of stepped-up attacks against Iran's energy resources and an unexpectedly hot February PPI report. Results of the Federal Reserve's March policy meeting will come later today, and investors will be on the lookout for clues about how the central bank feels about the recent sharp rise in oil prices.