US-Iran Tensions Escalate Over Weekend, Driving Oil Prices Higher and Fueling Market Risk-Off Sentiment

Escalating military exchanges between the United States and Iran over the weekend, including US airstrikes and retaliatory actions, have led to a rise in oil prices and a shift to a 'risk-off' defensive posture in global financial markets. Brent crude jumped early on Monday, July 13, amid concerns about potential disruptions to shipping through the Strait of Hormuz.