China's Foregin Minister says supports Iran in safeguarding rights and interests; held call with Iranian counterpart

China's Foreign Minister's support for Iran in safeguarding its rights and interests underscores potential geopolitical alignments that could influence global markets. This may heighten tensions in the region, particularly around energy supply and pricing, which could impact WTI oil prices and create ripple effects across commodity markets depending on responses from the US and EU. Keep an eye on energy-related assets as any escalation might affect supply dynamics or market sentiment.