FX.co ★ Crude Oil Starts The Week 3% Higher

Crude oil opened the week more than 3% higher, trading above $103 and holding at its highest level since July 2022, when Russia’s invasion of Ukraine roiled global energy markets. As the war in Iran entered its fifth week, investors became increasingly skeptical about the chances of a quick resolution, particularly after Iran-backed Houthi militants in Yemen joined the conflict and additional US troops were deployed to the region.