Brent Climbs Nearly 2% as US-Iran Strikes Deepen Risk-Off Trade
Updated
Updated · CaixaBank Research · Jun 4
Brent Climbs Nearly 2% as US-Iran Strikes Deepen Risk-Off Trade
3 articles · Updated · CaixaBank Research · Jun 4
Summary
Brent crude rose nearly 2% and TTF natural gas gained 2.5% as US-Iran exchanges intensified to their highest reported level since the early-April ceasefire.
That energy jump drove a broader risk-off move: global bond yields climbed, euro-area peripheral spreads widened, and the US dollar strengthened, especially against the yen.
Equities split along the session's timing—Asian indexes finished higher before sentiment soured, while US and European markets fell back from recent highs.
Stronger-than-expected US ISM services data and upside euro-area services and composite PMIs showed economic resilience, but failed to offset the geopolitical shock.
The dollar's advance against the yen is also keeping traders alert for possible Japanese intervention as Middle East tensions continue to dominate market pricing.