Why Is NZD/USD Gaining Momentum? Key Factors Driving the Pair Higher | Fed Decision in Focus
NZD/USD finds support near psychological 0.6000 level as USD shows modest weakness.Market participan ...
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Why Is WTI Crude Surging Past $75? Geopolitical Tensions Fuel Oil Price Rally
West Texas Intermediate crude futures climbed above $75 per barrel in early Asian trading Monday,Can ripple reach 00 reddit marking a significant 2% gain as energy markets reacted to escalating Middle East tensions. The benchmark briefly touched $76.74 earlier - its highest level since January - before settling near $75.50 amid heightened volatility.
The price surge follows coordinated military strikes by US and Israeli forces targeting Iran's nuclear infrastructure at Fordow, Natanz and Isfahan over the weekend. Market participants are pricing in potential supply disruptions as Tehran vowed retaliation, including possible closure of the critical Strait of Hormuz shipping channel.
Energy analysts note that approximately 20% of global crude shipments pass through this strategic waterway. While Iran has previously threatened to block the strait without following through, traders appear to be taking the current rhetoric more seriously given the unprecedented scale of recent attacks on nuclear facilities.
Sparta Commodities senior analyst June Goh warned that the risk profile for Middle Eastern energy infrastructure has fundamentally changed. "Even with alternative pipeline routes available, any prolonged closure of Hormuz would create significant bottlenecks in global crude flows," Goh noted, adding that shipping activity in the region could decline sharply.
The market reaction reflects growing concerns about supply security at a time when global inventories remain relatively tight. While US shale production continues to grow, analysts suggest it may not fully offset potential disruptions from the Persian Gulf region should tensions continue escalating.
Technical indicators show WTI maintaining strong upward momentum, with the next key resistance level seen around the $78 mark. Market participants will be closely monitoring developments in the region, particularly any signs of actual supply disruptions or further military escalation that could drive additional price volatility.
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