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U.S. oil holds above $100, Brent at five-month high as Iran says it's prepared for warfare
U.S. oil prices remain firmly above $100 a barrel, with Brent crude reaching a five-month high, against the backdrop of rising geopolitical tensions as Iran declares its readiness for warfare. President Trump has accused Iran of manipulating oil prices, adding to market nervousness. This scenario is significant for FX markets as elevated oil prices typically impact the U.S. dollar and currencies of oil-exporting nations, potentially introducing volatility depending on how the situation unfolds. Traders are likely to closely observe the implications of these developments on global risk sentiment and currency pairs.