Analyst: Iran's New Supreme Leader Takes Hardline Stance, Shows No Signs of Concession

Odaily News According to Odaily analyst Dara Doyle, the market interprets the remarks of the new Supreme Leader Mojtaba Khamenei as quite hardline, with seemingly little indication that Iran is prepared to make concessions to the United States and Israel. In his first public statement since taking office, he stated that the Strait of Hormuz should remain closed and threatened to open new fronts in the war. This has heightened market concerns about the continued disruption of supply through this globally critical oil chokepoint. U.S. Treasury yields and oil prices surged significantly, stocks fell, and the U.S. Dollar Index rose to a new intraday high. (Jin10)