Global Market Sees Turbulent Week Ahead Amid US-Iran Tensions

The global market is anticipating a tumultuous week ahead due to escalating tensions between the United States and Iran. The potential collapse of the fragile ceasefire has sent oil prices soaring, with Brent crude rising by 5.1% to $94.99 per barrel and WTI gaining 5.16% to $88.18.

The Strait of Hormuz remained largely closed on Monday, with only three crossings recorded in the past 12 hours. This has led to concerns about higher freight costs, tighter physical flows, and a renewed inflation risk. As a result, markets are continuing to price in these risks, even if oil prices do not immediately break $100.

US stock futures have also reacted to the deteriorating situation, with Dow futures down 313 points or 0.6%, S&P 500 futures falling 0.5%, and Nasdaq 100 futures slipping 0.5%. Commodities are also experiencing a shift, with gold prices lower despite being elevated historically. Silver, platinum, and palladium have all dropped in value.

Crypto markets are not entirely immune to the risk-off sentiment, with Bitcoin trading around $75,127 or down about 1% from last week's highs. Ethereum has slipped to $2,313, XRP eased to $1.4233, and most major altcoins have turned softer as traders shifted into a broader risk-off stance.