Israel identifies that the US is preparing to take control of the Strait of Hormuz - an operation that could prolong the war in a few weeks, Kan news reports
This development suggests an escalation in tensions surrounding the Strait of Hormuz, a critical chokepoint for global oil supplies.
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Saudi Arabia Defence Ministry says it intercepted and destroyed five drones that attempted to approach an energy facility in the Eastern region
Israel identifies that the US is preparing to take control of the Strait of Hormuz - an operation that could prolong the war in a few weeks, Kan news reports
US FX WRAP: Dollar gains on hawkish Powell, Middle-East tensions and hot PPI
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- An Israeli source said that here such a move is expected to last about two weeks, and therefore the assessment in Israel is that the campaign will continue for several more weeks - as long as the Iranians continue to prevent passage through Hormuz
The prospect of US involvement could heighten uncertainty in energy markets and put upward pressure on crude oil prices, while also eliciting reactions in safe-haven assets like gold. Traders should monitor how this geopolitical shift could influence FX pairs, particularly USD, EUR, and JPY, as risk sentiment evolves.
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