I’ll scan the key sources for the latest stories from the last 24 hours.The search results are dated inconsistently; I’ll open the main source pages directly for current headlines.Fetching more details on the top stories and checking remaining sources.Oil Plunges on US-Iran Deal Signals and Hormuz Hopes
Brent crude fell as much as 7% and WTI dropped over 6% in early Monday trading after President Trump announced he had called off planned strikes on Iran, stating that “the perimeters of a deal has been agreed to” following requests from Iran and other Middle Eastern countries. Saudi Crown Prince Mohammed bin Salman spoke with Trump, urging de-escalation and dialogue to avoid wider conflict. Stock futures rose and Treasury yields eased as the oil move reduced near-term inflation fears. The Strait of Hormuz and Red Sea shipping risks had driven a sharp July rally of more than 20% in benchmarks.
The episode follows weeks of tit-for-tat US-Iran strikes, Iranian interference with Hormuz traffic, and Houthi activity that disrupted energy flows. Iran and Oman are reportedly in final stages of talks on a new maritime arrangement, though Tehran insists on changing previous shipping lanes. OPEC+ separately approved a roughly 188,000 bpd September quota increase, completing one layer of voluntary cut unwinding, though actual output gains have been constrained by regional disruptions.
Key uncertainties remain whether the pause holds or repeats prior failed diplomatic cycles. Renewed military action or further tanker incidents could quickly reverse the price drop. Shipping data still shows elevated risks, with additional tanker attacks reported even as some Saudi vessels transited key straits.
Sources: ZeroHedge, OilPrice.com, CoinDesk.
Bitcoin Slips Under $63,000 as Coldcard Exploit Drains Funds
Bitcoin fell about 1% to around $62,600–$62,800 and ether dropped over 1%, ignoring the positive macro impulse from lower oil and yields. A multi-wave exploit of Coldcard hardware wallets has drained an estimated 1,367–1,816 BTC (roughly $89–114 million) from more than 5,200 addresses since July 30. A possible fourth wave using replace-by-fee is ongoing, giving some victims a narrow window to outbid and reclaim funds. Smaller holders have been moving coins to exchanges, the opposite of post-FTX behavior.
The flaw stems from a March 2021 firmware version that used a predictable software random number generator instead of hardware entropy, allowing offline key reproduction. Manufacturer Coinkite issued emergency firmware updates and urged users with affected seeds to migrate funds immediately. Losses have shifted from large balances in early waves to smaller wallets later. Multisig setups appear unaffected.
The security scare is overriding macro relief that would normally support crypto. Thin volume and negative ETF flows have compounded the pressure. Whether BTC holds $62,000 as Iran talks progress will test if the drag is purely internal or signals broader weakness. Futures basis has also collapsed below Treasury yields, reflecting reduced carry demand.
Sources: CoinDesk, CoinTelegraph, Bitcoin Magazine.
OPEC+ Output Rise and Regional Supply Dynamics
Kuwait oil production has surged as OPEC+ completes the reversal of prior output cuts with the September quota hike. This adds potential supply just as geopolitical premiums unwind on the Iran de-escalation news. Actual increases have been limited by Hormuz and Red Sea frictions, muting the immediate price impact.
Background includes months of voluntary restraints that were already being phased out amid higher prices earlier in the summer. The combination of extra barrels and reduced risk premium creates downward pressure, though physical market tightness in diesel and other products had previously supported prices.
Tensions persist between announced quotas and realizable exports given ongoing maritime threats. Any breakdown in diplomacy would quickly reintroduce scarcity fears.
Sources: OilPrice.com, ZeroHedge.