Oil just sent a warning shot to global markets. 📈

Brent crude spiked above $116 before pulling back near $104... also, WTI spiked close to $120.

Here’s what’s driving the surge:

• Iraq’s southern oil production reportedly crashed to 1.3M BPD from about 4.3M BPD.
• Iran warns it could strike regional energy infrastructure if attacks continue.
• Meanwhile, state media says Mojtaba Khamenei, son of Ali Khamenei, has been named Iran’s new Supreme Leader.

However, Russia and the United Arab Emirates are now calling for urgent diplomacy to prevent a wider regional crisis.

And from Donald Trump:

“Temporary oil price hikes are a small price for U.S. and world security. Prices will drop fast once Iran’s nuclear threat is gone.”

⚠️ If this lingers, it could cause volatility across oil, crypto, inflation, and global markets.
$BTC ‌$GT ‌#KhameneisSonElectedIransLeader #GlobalOilPricesSurgePast$100