CITIC Securities: Brent at $94.25 on June 8 leaves crypto exposed to $100+ oil risk

CITIC Securities said the oil market may be underpricing upside risks tied to the Strait of Hormuz closure, potential lasting production damage, and weak U.S. drilling, a mix it sees as negative for risk assets such as Bitcoin and Ether. Brent settled near $94.25 on June 8 after an Iran-Israel missile exchange, and the bank highlighted $100 as a key level that could worsen inflation expectations and delay Fed easing.