The Best Finished Oil Performance Amidst the Middle East Conflict
Brent crude oil performed best as Middle East conflicts intensified following the United States' attack on Iran's nuclear site. The asset surged 5.7% since Iran attacked Israel on June 13, reaching US$81.40 per barrel in Asia. Meanwhile, US bonds with a 10-year bond yield have only increased by less than two basis points since then and closed on Friday at 4.38%. The US dollar, which is a traditional asset, has also risen by about 0.9% since two weeks ago. However, this increase is considered a relatively small step as this asset is typically used as a safe haven during conflicts. However, not all assets benefit from the escalation of this conflict. Bitcoin is one of the most affected, which caused it to plummet by 9.74% since June 13. Even the largest digital asset temporarily fell to US$99,000 after holding at the US$102,000 level for several hours. Not alone, the MSCI All Country World Index, a global equity index, also fell by 1.8% since Israel attacked Iran on June 13.
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The Best Finished Oil Performance Amidst the Middle East Conflict
Brent crude oil performed best as Middle East conflicts intensified following the United States' attack on Iran's nuclear site. The asset surged 5.7% since Iran attacked Israel on June 13, reaching US$81.40 per barrel in Asia.
Meanwhile, US bonds with a 10-year bond yield have only increased by less than two basis points since then and closed on Friday at 4.38%.
The US dollar, which is a traditional asset, has also risen by about 0.9% since two weeks ago. However, this increase is considered a relatively small step as this asset is typically used as a safe haven during conflicts.
However, not all assets benefit from the escalation of this conflict. Bitcoin is one of the most affected, which caused it to plummet by 9.74% since June 13. Even the largest digital asset temporarily fell to US$99,000 after holding at the US$102,000 level for several hours.
Not alone, the MSCI All Country World Index, a global equity index, also fell by 1.8% since Israel attacked Iran on June 13.