[MARKET UPDATE] Crude complex rises towards session highs, weighing on fixed benchmarks and US equity futures, whilst DXY moves higher; follows punchy rhetoric from an Iranian official

The rise in the crude complex suggests strong demand or supply constraints, which could amplify inflationary pressures and impact the growth-inflation mix. This price action is also weighing on fixed income and US equity futures, indicating a potential risk-off sentiment as the dollar strengthens. The escalation in rhetoric from Iran may add a layer of geopolitical risk, further influencing market dynamics across assets.