US-Iran Tensions Escalate, WTI Crude Surges Over 3% to Approach $74 at Market Open

According to Gate data, Iran announced the closure of the Strait of Hormuz over the weekend, and the United States struck Iran twice in the early hours of Monday, escalating US-Iran tensions. At the start of trading on Monday, WTI crude oil surged over 3%, approaching $74 per barrel; spot gold fell below the $4,100 mark, dropping nearly 0.8%; spot silver fell over 2% to $58.65 per ounce; Nasdaq futures declined 0.4%; the US Dollar Index (DXY) strengthened by over 10 points, while 10-year US Treasury futures dropped 5 points.