Forex
Home›Forex›Major Pairs›US-Iran tensions keep Strait of Hormuz risk in focus f…
US-Iran tensions keep Strait of Hormuz risk in focus for markets
WTI crude rose about 4% to $74.3 and Brent gained over 4% to $79.1 as US S&P 500 and Nasdaq futures fell and 10-year yields retested June highs near 4.6%.
Forexlive said markets started the week with US-Iran conflict once again driving risk sentiment after continued strikes over the weekend and remarks from President Trump indicating that a ceasefire is no longer in place. The outlet pointed to the Strait of Hormuz as the key factor, describing it as in de facto closure and noting the ceasefire memorandum was signed more than three weeks ago.
The market reaction spread beyond energy. WTI crude was up 4% to $74.33, and Brent was up over 4% to $79.10, with the move feeding into a more risk-off tone across asset classes, according to Forexlive.
Forexlive reported US equity futures weakening again, with S&P 500 futures down 0.5% and Nasdaq futures down 1.4%. In rates markets, it said US 10-year yields were pushing back toward 4.58% while retesting June highs.
In commodities and safe havens, the outlet said gold fell 1.6% to $4,054 and silver declined 2.9% to $58.10 heading into later European trading. It also described headline risk as the main driver as investors weighed how long the situation could persist.
Latest closeGold $4,128.90 ▼0.0%|Silver $60.30 ▼0.1%|WTI crude $71.51 ▼0.8%