US Strikes Iran 10th Night; Brent Crude Holds $89
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Brent crude tops $91 on Middle East escalation
Oil prices surged 2% to a five-week high as U.S.-Iran tensions and Houthi blockade threats to Saudi shipping disrupted regional supply lines. Brent broke above $91/bbl with tankers rerouting from the Red Sea. USD-denominated commodities typically weaken the greenback; watch USD/JPY and commodity-linked pairs (AUD/USD, CAD/USD) for modest downside pressure if oil sustains.
https://x.com/DeItaone/status/2079590320904278341US launches strikes on Iran amid regional escalation
The US has conducted military strikes against Iran, triggering explosions across the country in a significant geopolitical escalation. This sudden military action raises safe-haven demand and geopolitical risk premiums. USD typically strengthens during Middle East tensions; JPY and CHF may also benefit as safe havens, while risk currencies like AUD and NZD face headwinds.
https://www.aljazeera.com/news/2026/7/21/explosions-in-iran-as-us-launches-new-strikes?traffic_source=rssNew to MyTradingLand?
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