Iran and US have been in direct contact in recent days, according to Axios sources

The recent report of direct contact between Iran and the US could indicate potential shifts in diplomatic relations, which may affect supply chains for oil and commodities. Depending on the nature of these discussions, we could see fluctuations in energy prices, particularly WTI, and might also influence the USD's positioning against other currencies. Traders should be cautious of heightened volatility in forex and commodities markets as further developments unfold.