Oil price rises with Middle East tensions and a weak dollar

The oil market is reacting sharply to recent geopolitical developments, notably the clashes between Israel and Iranian-backed militias.
These tensions have rekindled fears of a regional escalation that could include Iran, one of the world’s leading oil producers. This uncertainty is generating additional risk premiums on the market, driving up oil prices.
The global economic context is not to be outdone.
The US Federal Reserve recently cut interest rates, contributing to the devaluation of the dollar.
This has a direct effect on commodities, including oil, which becomes cheaper for buyers using currencies other than the dollar.
This depreciation boosts demand, particularly in importing countries, and supports rising crude oil prices.