Matt Britzman, senior equity analyst at Hargreaves Lansdown, said: “Oil prices are creeping higher this morning, hovering near levels not seen since 2022.
“Oil has effectively become the key transmission channel for broader market risk, with moves now feeding directly into everything from bond yields to equity sentiment and even gold prices as investors try to gauge how far the conflict could hit global energy supply.
“With Iran warning it could escalate attacks on Gulf energy infrastructure if the US targets civilian assets, oil is increasingly acting as the primary driver of volatility heading into today’s deadline.”
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