U S Iran Conflict

WTI and Brent crude gained as traders weighed the risk of further escalation in the Middle East and monitored disruption risks from Hurricane Isaias. Natural gas retreated after weekly storage data showed a larger than expected build, pressuring bullish positions.

Bitcoin weakened over the past 24 hours as renewed U.S.-Iran hostilities pushed oil prices higher and traders reduced exposure to risk-sensitive assets. With June CPI due later today, markets are watching whether inflation data will ease or reinforce expectations for a July Federal Reserve rate increase.

USD/MXN is holding inside a choppy technical range as traders weigh mixed forex sentiment, U.S. inflation concerns and geopolitical risk. Short-term price action remains vulnerable to sudden spikes as North American flows return to the market.

Bitcoin and major cryptocurrencies traded lower after renewed U.S.-Iran aerial strikes lifted crude oil and kept the dollar firm. The escalation added fresh pressure to risk assets as traders weighed inflation concerns and the possibility of higher interest rates.