According to The Kobeissi Letter, in 2024, Saudi Arabia was responsible for 38% of total crude and condensate exports through the Strait of Hormuz, amounting to 5.5 million barrels per day. This critical oil transit route supplies not just Asia but also the US and EU, highlighting the strait's significance for global energy markets. For cryptocurrency traders, disruptions or geopolitical tensions in the Strait of Hormuz can trigger volatility in oil prices, which often correlates with movements in crypto assets like BTC and ETH, as energy markets and risk sentiment are closely linked (source: The Kobeissi Letter, June 22, 2025).

According to The Kobeissi Letter, in 2024, Saudi Arabia accounted for 38% of total crude and condensate exports through the Strait of Hormuz, representing 5.5 million barrels per day. The strategic importance of these flows affects global oil supply, influencing both traditional markets and crypto assets sensitive to macroeconomic shocks. The analysis highlights that even the US and EU are direct recipients of oil via this corridor, underlining its significance for traders monitoring energy-driven volatility that can spill into Bitcoin (BTC) and Ethereum (ETH) price movements. Source: The Kobeissi Letter (Twitter, June 22, 2025).