Iran says in letter to UN Secretary General and members of the Security Council that if they are attacked, all bases, facilities and assets of hostile force in the region will constitute legitimate targets within the framework of Iran's defensive response

Iran says in letter to UN Secretary General and members of the Security Council that if they are attacked, all bases, facilities and assets of hostile force in the region will constitute legitimate targets within the framework of Iran's defensive response.

Iran's recent statement raises the stakes in regional tensions, suggesting a firm defensive posture that could heighten market volatility. This has implications for oil prices, as increased conflict risks can bolster crude and gold, while also impacting safe-haven currencies like the JPY and CHF. Traders should be aware of the potential for escalated geopolitical risk premiums across various asset classes, particularly in energy and metals.