Episode Details

Today on The Open Bell: Oil is sitting just under $100 a barrel and the reason your petrol bill, your mortgage rate, and your grocery prices are all still climbing at the same time traces back to one thing: the same supply crunch that pushed crude past $113 in April still hasn't let go. Nigeria's central bank just slashed its benchmark rate by 350 basis points, that's three and a half full percentage points in one move, and the question isn't whether that's bold, it's whether an economy that's been squeezed this hard for this long can actually absorb a jolt that size without something else giving way. Bitcoin jumped nearly 7% in a single day, not because of any news, but because $648 million worth of traders who'd bet on prices falling were forced to buy back in all at once when prices rose instead, which tells you a lot about who's really driving this market. If today's episode helped something click, a five-star rating takes about ten seconds and helps more people find the show. New episodes every weekday morning at theopenbell.co Not investment advice. For informational purposes only. --- Chapters: 00:00 Introduction 00:14 Oil Holds Near $99/bbl as Iran-Linked Supply Fears Keep Ener 03:03 Nigeria's Central Bank Slashes Rate 350bp to 23% in Surprise 05:46 Bitcoin Surges 6.70% to $86,600 as $648M Short Squeeze Clear 07:52 Closing thoughts

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