U.S.-Iran tensions escalate; WTI crude oil rises over 3% at market open, approaching $74

According to Gate data, Iran announced the closure of the Strait of Hormuz over the weekend, while the U.S. struck Iran twice in the early hours of Monday, escalating U.S.-Iran tensions once again. At Monday's market open, WTI crude oil rose 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 fell 0.4%; the US Dollar Index (DXY) strengthened by more than 10 points, and 10-year U.S. Treasury futures fell 5 points.