BlockBeats News, March 12th, Analyst Dara Doyle stated that the market interpreted the remarks of newly appointed Supreme Leader Mojtaba Khamenei as quite hardline, with little sign that Iran is ready to make concessions to the United States and Israel. In his first public statement after taking office, he stated that the Strait of Hormuz should remain closed and threatened to open new fronts in the war. This has heightened concerns in the market about the continued disruption of the global key oil chokepoint supply. US bond yields and oil prices surged, stocks fell, and the US Dollar Index rose to a new intraday high. (Jinse)
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