Bitcoin, Nasdaq futures decline as Trump won’t rule out more Iran strikes
Trump on Sunday didn’t rule out additional strikes on Iran before the midterm elections, even as he said the war could end soon.
West Texas Intermediate (WTI) oil prices surged above $93.00 on Monday following US President Donald Trump's rejection of an Iranian peace deal. Iran had proposed reopening the Strait of Hormuz, but Trump dismissed it, stating that Tehran was eager to make a deal. Both Iran and Saudi-backed coalition forces in Yemen reported recent military actions, heightening geopolitical risks.
Traders remain cautious, as upcoming US crude oil inventory data could impact WTI prices. Analysts note that renewed Middle East tensions and a tight oil market raise concerns about supply and inflation, potentially supporting higher US interest rates. The price of WTI, as a benchmark for the oil market, is affected by global demand, political instability, OPEC decisions, and the value of the US Dollar.
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