Oil Climbs as Israel-Iran Conflict Amps Up Market Risks
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Oil Climbs as Israel-Iran Conflict Amps Up Market Risks
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About this listen
Oil climbed early Monday with investors squarely focused on escalating geopolitical tensions as Israel and Iran continue to bombard each other with no sign of a pause. Brent crude rose as much as 5.5% in early Asian trading after Israel and Iran continued attacks on one another's territories over the weekend. Israel launched an attack on the giant South Pars gas field in the Persian Gulf, forcing the shut down of a production platform, after air strikes on Iran's nuclear sites and military leadership last week. For more, we speak with Pavel Molchanov, Investment Strategy Analyst at Raymond James & Associates.
Plus - S&P 500 futures slipped, while Asian equity-index contracts pointed to declines in Hong Kong and Sydney, and a gain in Tokyo. The dollar saw modest gains against major peers in early trading. With Federal Reserve officials signaling an extended hold on interest rates, investors and economists will look to Chair Jerome Powell this week for clues on what might eventually prompt the central bank to make a move, and when. We take a look at the macro landscape with Patrick Kennedy, Founding Partner at AllSource Investment Management.
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