Oil prices rise on Middle East tensions while yen weakens
Oil climbed towards US$83 a barrel amid escalating Middle East conflict and reports of an Iran-Oman agreement affecting the Strait of Hormuz.
Brent crude oil prices rose steadily as tensions in the Middle East widened. Details emerged regarding an Iran-Oman arrangement involving the Strait of Hormuz. US Treasury yields also increased alongside the oil price movement. The Japanese yen came under renewed pressure in currency markets.
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Few currency movements, apart from a fading Yen
Oil prices rose steadily on widening Middle East conflict and more details on the Iran-Oman "deal" on the Strait of Hormuz; Brent crude back up towards US$83. US Treasury yields rose in concert. Yen under pressure again