GeopoliticsIMPORTANT
[MARKET UPDATE]: Crude rallies, weighing on stocks and T-notes, supporting the dollar on little fresh news but does follow Iranian media echoing earlier reports about Houthis and Bab al-Mandab Strait
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Crude oil rose following reports of Houthi progress toward controlling the Bab al-Mandab strait, weighing on stocks and Treasuries while boosting the U.S. dollar amid ongoing Middle East maritime tensions.
News detail
The move does come as Iranian press echoes earlier reports, Houthis on the verge of complete control over the bab al-Mandab strait, with control over the city of Al Mukha.
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