🟢 Crude Oil is trading 1.2% up today on U.S. strikes against Iran and Middle East escalation

Crude Oil is trading 1.2% up now at $90.85 as traders respond to fresh U.S. military strikes against Iran and escalating hostilities in the Middle East.

• The geopolitical risk premium is rising as the conflict revives concerns regarding potential supply disruptions in the region.
• This price action reverses yesterday’s sharp pullback, which was triggered by brief hopes for a ceasefire.
• The commodity is currently decoupling from broader U.S. equity indices, which are trading lower on post-CPI risk-off sentiment, highlighting the geopolitical nature of the move.