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The renewed tension in the Middle East has an impact on asset prices. Yesterday, despite expectations that the US and Iran could reach an agreement through mediators, the news flow regarding the US attack on a naval base in Iran increased the perception of geopolitical risk and increased concerns about energy supply.

Analysts stated that the possibility that the conflicts between the USA and Iran could expand further caused the perception of risk to remain high, and that rising oil prices continued to fuel inflation fears on a global basis.

Following US President Donald Trump's decision to exempt Russia from sanctions and tariffs, the expectation that the supply of Russian oil and fuel to the markets may increase came to the fore, while the tension in the Middle East and attacks on the energy infrastructure kept supply concerns alive.

Meanwhile, the Iran-backed Houthis in Yemen claimed that they had attacked 6 different regions in Saudi Arabia in the last 48 hours using ballistic missiles, cruise missiles and unmanned aerial vehicles (UAVs).

Accordingly, as the rising tension in the region threatened the energy supply, the barrel price of December term Brent oil approached 110 dollars. Concerns that inflationary pressures may strengthen with rising oil prices have increased market sensitivities ahead of the balance sheets to be announced by leading companies this week.

Yesterday, while the recovery in technology and artificial intelligence-related company stocks continued on the New York Stock Exchange, it was seen that the current risks moved to the Asian side on the new day. Analysts stated that geopolitical concerns were partially ignored with optimism regarding the expected balance sheets.

In addition to these developments, the intense data agenda that will be announced worldwide today will be followed closely. The weekly employment change data to be announced in the USA is expected to provide information about the current labor market situation in the country.

While inflation concerns continue in the country, expectations that the US Federal Reserve (Fed) will keep the policy rate constant next week continue to remain strong.

Source: TRT Haber Ekonomi RSS (Open Press / Translated Full Text)