Forex
Crude Prices Soar on Escalating Gulf Tensions, Copper Hits Record
WTI crude oil prices surged to their highest level since July 23, trading around $92.30 in Asian hours after extending gains for a third straight day.
The rally was driven by intensified Gulf supply risks and disruptions in the Strait of Hormuz, a critical energy transit route.
Copper prices also reached an all-time high of $14,697 per ton on the LME three-month contract, supported by strong U.S. demand and supply disruptions in Chile.
The European Central Bank is expected to deliver its second rate hike of the year, with markets holding above 1.1600 for the euro against the U.S. dollar.