SMCI Oil Rises on Israel-Iran Report, Dollar WeakensOil rose to the highest level in a week and the dollar declined after CNN reported that new US intelligence suggested Israel is preparing for a potential strike on Iranian nuclear facilities.
Brent crude jumped 1.5%. It wasn’t clear that Israeli leaders had made a final decision to carry out the strikes, CNN said, citing officials it didn’t name. The Swiss franc and the yen, traditional haven assets, advanced while yields on 30-year US Treasuries hovered around the 5% mark. Contracts for the S&P 500 dropped 0.4% while Asian shares rose 0.8%.
Geopolitical tensions may add headwinds to the markets, which had calmed recently after a month of turmoil from the tariff blitz unleashed by US President Donald Trump. Investors are scouring for clues on whether recent gains in stocks can sustain, even as the Federal Reserve waits to gain a clearer view of the economy before lowering interest rates.
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