[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.
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[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
Power outages in parts of Karaj, western Iran, following explosions, according to Iranian media
Saudi Arabia's crude exports from Yanbu port dropped 15% W/W to 3.9mln BPD, according to shipping data
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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.
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