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Commodities

Middle East Tensions Drive Oil Prices Higher

Guavy AI Editorial Team
Instruments
Oil
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The recent escalation of tensions in the Middle East has sent shockwaves through global markets. The US has rejected Iran's latest offer, and it appears that more American forces are being moved into the region.

Oil prices have jumped as a result, pushing up yields and firming up the dollar against most major currencies.

The yen declined for five consecutive sessions before Japanese officials intervened to stabilize it ahead of the weekend. The US Treasury is reportedly coordinating with Japan on this effort.

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