EUR

Good morning. Oil prices jumped and currency markets slid back into risk-aversion mode last night when Donald Trump claimed the US-Israeli war against Iran was “nearing completion” but failed to offer a clear timeline and threatened more attacks. In a 19-minute address from the White House, the president said “We are on track to complete all of America’s military objectives shortly, very shortly,” yet “We are going to hit them extremely hard. Over the next two to three weeks, we’re going to bring them back to the Stone Ages, where they belong”. Both global crude oil benchmarks are up more...

The dollar is on course for its strongest monthly performance since July and Brent crude is tracking what could be a record monthly gain as the US-Israeli war against Iran devolves into a protracted regional conflict. In an interview with the Financial Times last night, US president Donald Trump said “To be honest with you, my favourite thing is to take the oil in Iran but some stupid people back in the US say: ‘why are you doing that?’ But they’re stupid people”. “Maybe we take Kharg Island,” he said, “maybe we don’t. We have a lot of options,” alluding...