Daily Market Analysis By FXOpen

[FXOpen Trader]

WTI Oil Price Rises Above $100


Another shocking Monday for the energy market. Last week's start was remembered for a bullish gap of more than 10% (which was later followed by a pullback), but today's market open proved even more volatile (as reflected by the ATR indicator). After a bullish gap of roughly 11%, the price continued to climb, reaching a peak of around $114 per barrel of WTI during the Asian session. This is the highest price since 2022.

The drivers of the rally are obvious – the escalation of the war in the Middle East, with more countries becoming involved. Risks have reached a critical point, with discussions emerging around the scenario of a complete blockade of shipping through the Strait of Hormuz. In such a case, oil-producing countries could invoke force majeure as grounds for halting supplies.



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[FXOpen Trader]

Dollar Index (DXY) Hits Yearly High


Today, the dollar index rose above last week's peak around the 99.68 level, setting a new high for 2026. This movement is supported by a tense fundamental backdrop:

→ Inflationary pressures from rising oil prices. Markets may be pricing in a "higher for longer" scenario, with elevated Fed rates persisting.

→ Safe-haven demand. Escalation in the Middle East—including strikes on Iran and the rise of hardline leader Mojtaba Khamenei in Tehran—may push market participants towards defensive strategies and the US dollar.

→ Weakness in other currencies. The Middle East conflict can weigh on the yen and euro, as European and Japanese economies remain highly sensitive to energy prices.



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Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.