Explosions in Iran renew Hormuz war fears – Iran international
Iran’s international citing domestic reports. It was reported that explosions were heard in Chabahar and Bandar Abbas.
Explosions were heard in Chabahar and Bandar Abbas, reigniting concerns over potential conflict in the Strait of Hormuz. The US Air Force reportedly targeted Iranian sites near the strategic waterway, causing West Texas Intermediate crude oil prices to surge to $89.90 per barrel, marking a nearly 4% increase from its previous levels.
The heightened tensions between the US and Iran have led to fluctuations in global financial markets, with investors adopting a "risk-off" mindset. As a result, major government bonds, gold, and safe-haven currencies such as the Japanese Yen, Swiss Franc, and US Dollar have gained value. In contrast, currencies of countries heavily reliant on commodity exports, including the Australian Dollar, Canadian Dollar, and New Zealand Dollar, have experienced an uptick.
The Australian Dollar, Canadian Dollar, and New Zealand Dollar have all seen an increase in value due to their heavy dependence on commodity exports for economic growth. Meanwhile, the US Dollar, Japanese Yen, and Swiss Franc have strengthened as investors seek safety amidst the ongoing geopolitical uncertainty.
Written by urgent.news from FXStreet's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
Also reported by 4 other outlets
- Iran says four projectiles hit cities east of Hormuz Strait middleeasteye.net
- US launches fresh strikes on Iran around Strait of Hormuz koreatimes.co.kr
- US launches fresh strikes on Iran around Strait of Hormuz abc.net.au
- Explosions reported in Bandar Abbas, Qeshm Island and areas near Strait of Hormuz english.ajel.sa
