1. Middle East tensions escalated following US attacks in Iran, with Iran threatening retaliation and potential closure of the Strait of Hormuz, while the US prepares to blockade Iranian ports.
2. Brent and WTI crude oil prices surged over 7% after Russia banned diesel exports and EIA data showed US crude stocks dropped to their lowest since May 1984.
3. Markets anticipate the European Central Bank (ECB) will raise interest rates twice by 25 basis points each before the end of the year.
Middle East Tensions Escalate, Oil Surges, ECB Rate Hikes Expected
