Traders Focus on Oil Prices and US Employment Figures

Global markets face volatility as Brent Crude Oil rose above $120 a barrel following the three-month conflict in Iran. It marks the highest oil price since 2022 as the closure of the Strait of Hormuz disrupts global energy supplies. Investors must navigate rising inflation risks and hawkish central bank signals across the United States and Europe.

The United States and Iran are under pressure to resolve a conflict that has halted energy flows through the Strait of Hormuz. Japan recently intervened to support the USD/JPY after the currency weakened due to the energy crisis. While global equities have found support in AI and earnings, traders are weighing the "sell in May" adage as the war persists.