Oil Price Breaks Through 110 US Dollars, Bitcoin (BTC) Also Volatile

Jakarta – Geopolitical turmoil in the Middle East has once again shaken global financial markets.

A sharp surge in global crude oil prices has triggered pressure on stock markets and cryptoassets, including Bitcoin (BTC) which fell briefly below 66,000 US dollars before stabilising around 67,000 US dollars.

The rise in oil prices has been driven by escalating geopolitical tensions that threaten global energy supplies. This condition has triggered a wave of volatility across various asset classes, from energy commodities to risky assets such as cryptocurrencies.

Amid this turmoil, Bitcoin experienced a short-term decline, reflecting the sensitivity of the cryptocurrency market to global macroeconomic shocks.

The surge in global crude oil prices has been the primary trigger for global market volatility. In the latest trading, crude oil futures contracts surged sharply by around 20 per cent.

According to data from OilPrice.com on Monday, 9 March 2026 at 12.40 Western Indonesia Time, the United States West Texas Intermediate (WTI) crude oil futures contract for April 2026 delivery was at 107.2 US dollars per barrel.

Meanwhile, Brent crude, the global oil price benchmark, was at 110 US dollars per barrel.

This increase has occurred amid concerns about an escalation in conflict that could disrupt energy supplies from the Middle East region. Escalating geopolitical tensions have made market participants worried about the risk of disruption to global energy distribution.

The surge in oil prices has directly impacted various other financial instruments.

According to Bitget, US stock index futures contracts were reported to have fallen by nearly 2 per cent following the surge in oil prices.

Pressure was also evident in Asian stock markets. The Japanese, South Korean, and several other regional markets experienced sharp declines amid growing concerns about the economic impact of the energy price surge.

Surging global crude oil prices are often an indicator of increasing geopolitical tension and potential disruptions to global supply chains.

Amid the global market turmoil, Bitcoin also came under pressure. The world’s largest cryptocurrency asset briefly fell below 66,000 US dollars.

CoinDesk reported that Bitcoin was trading approximately 2 per cent lower and was just below the 66,000 US dollar level.

This decline occurred in tandem with declines in various other risky assets, including technology stocks and industrial commodities.