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      Oil Prices Surge Amid Middle East Tensions as North American Markets Reopen

      North American traders have returned to the markets following the Labor Day holiday, with significant movements observed in the forex and commodities markets. The U.S. dollar is trading mixed against major currencies, with the New Zealand dollar experiencing the largest decline, down approximately 0.60%. U.S. Treasury yields have also increased as bond traders resume activity, with the 10-year yield rising to 4.796%.

      Crude oil prices have surged sharply, with West Texas Intermediate (WTI) crude futures rising by $2.28, or 2.49%, to reach $93.76 per barrel. This increase is attributed to escalating tensions in the Middle East, where Iran-backed Houthi forces have launched missile and drone attacks on energy-related facilities in southern Saudi Arabia, injuring 73 people. The Saudi-led coalition has vowed to respond, raising concerns about further conflict and disruptions to oil supply.

      In addition to the rise in oil prices, U.S. stock futures indicate a lower opening, with declines in major indices such as the Dow Industrial Average and S&P 500. The geopolitical risks associated with the Middle East situation are influencing market sentiment, particularly in the energy sector. Meanwhile, gold and Bitcoin have both seen declines, suggesting that the immediate market reaction is concentrated on oil rather than a broader flight to safe-haven assets.

      © 2026 KLEA News. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

      Source: KLEA News

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