Global Markets Affected by Energy Prices and US Interest Rates

In the past 24 hours, global markets have been impacted by a surge in energy prices and rising expectations for an increase in US interest rates. Attacks on Saudi Arabia's energy infrastructure and the halt of the East-West pipeline have heightened concerns about oil supply constraints. The probability of a Federal Reserve interest rate hike at Wednesday's meeting has risen to about 93%, and the yield on US ten-year Treasury bonds climbed to 5.0266%, the highest level since 2007. The dollar index also reached 99.633. Brent crude oil rose by 1.55% to around $107.32. The shutdown of a route with a capacity to transport about four million barrels of oil per day has raised traders' concerns about a longer disruption in Gulf exports. The global gold ounce traded almost unchanged at around $4,302.13 ahead of the Federal Reserve's decision. In Iran, the price of each gram of 18-carat gold reached 23 million and 613 thousand tomans. Tether also fell by 0.96% to around 231 thousand and 34 tomans. The cryptocurrency market remained cautious; Bitcoin decreased by 0.30% to about $77,434, with daily trading volume close to $31.17 billion. Currently, the Federal Reserve's decision and developments in the Strait of Hormuz are the most significant factors determining the short-term direction of the markets.

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