[MARKET UPDATE] Crude futures rise in a delayed reaction as reports that Kharg island was targeted does the rounds; upticks in the DXY, downticks in UST futures, modest downside across stock futures

The rise in crude futures following reports of a strike targeting Kharg island indicates a heightened risk perception in the oil market, likely driven by concerns over supply disruptions. This geopolitical tension has also prompted a modest uptick in the DXY and lower UST futures, suggesting that investors are seeking the safety of the dollar while reducing exposure to equities amid rising uncertainty. Keep an eye on oil sensitive assets as this situation develops.