Oil prices rose in early trade on Wednesday, jumping for the fourth day in a row due to supply concerns as investors considered conflicting messages from Tehran and Washington about whether the Strait of Hormuz is open to ships.
Traders should remain alert to several important market-moving events and economic indicators that could influence currency pairs, commodities, and broader risk sentiment. FX option expiries, central-bank communication, U.S. economic data, and Chinese economic releases could all contribute to increased volatility.
Geopolitics & oil: Oil prices have extended gains for a fourth day amid Middle East tensions (UAE–Iran, Strait of Hormuz concerns), supporting commodity-linked currencies and weighing on risk sentiment in Asia.
On Tuesday, gold prices remained near $4,400 per ounce as weaker U.S. economic data reduced expectations for further Federal Reserve rate hikes, while heightened tensions in the Middle East boosted demand for bullion despite rising Treasury yields.
Oil prices increased marginally in Asian trade on Tuesday, keeping close to recent highs, as the United States and Iran remained at odds over the Strait of Hormuz and made little progress toward a peace agreement.
📆 Tuesday18/08/2026