Brent crude tops $103 a barrel, up 0.73% on the day

A 0.73% intraday move is modest in isolation, but the fact that Brent is holding above the $103 handle matters more than the percentage itself — it suggests the benchmark is consolidating at a level rather than spiking and fading. For crypto and RWA markets, the read-through is indirect: sustained strength in crude feeds into inflation expectations and the rate outlook, which have been the dominant macro driver for risk assets. Whether Brent stays above this threshold or slips back below it is the open question worth tracking.