Saudi Oil Crisis Weighs on Bitcoin Ahead of Fed Decision
- —Oil stocks in Yanbu are sufficient for 5-7 days of exports
- —Up to 4% of global oil supply is at risk
- —Pipeline repairs could take 5-6 weeks
- —The Fed's rate decision is expected on Wednesday
Why it matters: Rising oil prices increase inflationary pressure and raise the odds of a hawkish Fed, weighing on bitcoin and risk assets.
Source: Crypto Insiders