Dollar stays firm as Middle East fighting lifts Brent to $95.52 and WTI to $91.02
AI Market Summary
Renewed Middle East hostilities lifted Brent and WTI, reinforcing inflation risk and pushing U.S. yields higher as markets increased the implied probability of a September Fed hike. A firmer dollar and rising rates typically tighten financial conditions and weigh on risk assets, while supporting energy prices. Near-term focus shifts to incoming U.S. jobs and inflation data and their implications for policy expectations.
Impact level
● High
Affected assets
NCCO1OILBRENT2USD/USDT+1.72%
AI Insight · NCCO1OILBRENT2USD/USDTAI Insight
▼ Bearish
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Renewed Middle East hostilities pushed oil prices higher, with Brent futures at $95.52 a barrel and WTI at $91.02. Expectations of a Federal Reserve rate hike in September rose to 67% from about 40% a week earlier, while the 10-year U.S. Treasury yield climbed to 4.8%. The dollar strengthened as the pound slipped to $1.3509, the Australian dollar held at $0.7143, and the yen stayed weak.
