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The war in the Middle East and the closure of the Strait of Hormuz have created the largest energy security threat the world has ever faced, Fatih Birol, the executive director of the International Energy Agency (IEA), told CNBC on Thursday. “We are facing the biggest energy security threat in histo

USD/JPY trades around 159.45 on Thursday, virtually unchanged on the day but still close to recent highs after three consecutive bullish days.

Russia says it’s still pumping and shipping crude into a tightening global market, but it’s not bringing any new ideas to the table ahead of the next OPEC+ meeting, even as supply shrinks and demand climbs during the worst energy crisis in years. The Kremlin said on Thursday that Russia would contin

ING’s Francesco Pesole notes that the Norwegian Krone (NOK) has rallied sharply versus both US Dollar (USD) and Euro (EUR) in April, supported by resilient US equities and higher Oil prices.

Rooftop solar installations in Europe have surged since the Middle East war triggered a new oil and gas supply crisis and hiked power prices. Demand from households and businesses willing to install rooftop solar systems soared in March and continues to rise at even higher rates in April as consumer

BNY’s Bob Savage reports that the International Energy Agency warns of the biggest energy security threat in history as the Iran conflict and Strait of Hormuz closure remove significant Oil supply. Savage details tanker interceptions, rising crack spreads and stronger Brent options activity.

Societe Generale analysts argue that the Australian Dollar’s (AUD) strong year-to-date performance leaves it vulnerable to concerns over imported petroleum dependence during the Gulf blockade.

Brown Brothers Harriman’s (BBH) Elias Haddad notes that higher crude Oil prices and rising global bond yields are supporting the US Dollar (USD), with USD firmer against major currencies.

The USD/JPY pair extends its four-day upside to near 159.75 during the European trading session on Thursday. The pair reflects strength as the US Dollar (USD) outperforms its peers due to rising oil prices amid the prolonged closure of the Strait of Hormuz.

Deutsche Bank analysts note Brent Oil remains on an upward trajectory, trading above $103 per barrel and heading for a fourth consecutive daily gain as the Iran conflict persists.

ING’s Francesco Pesole notes that resilient United States (US) equities and higher Oil prices have driven flows away from low-yielding, energy-importer currencies toward the Dollar and commodity FX.

Deutsche Bank strategists report the S&P 500 closed at a fresh record, supported by strong earnings and tech leadership, even as most constituents declined. Futures now point lower as the Iran conflict and higher Oil prices weigh on risk sentiment.

West Texas Intermediate (WTI), futures on NYMEX, trades 2% higher to near $93.70 during the European trading session on Thursday.

Rabobank’s Global Strategist Michael Every warns that conflict around Iran and disruptions in the Strait of Hormuz could significantly extend the energy normalization timeline.

OCBC strategists Sim Moh Siong and Christopher Wong highlights that stronger United States (US) equities and higher Oil prices are creating an unusual risk mix that is keeping US Dollar (USD) weakness contained.

HSBC has issued its second downgrade for Indian equities in a month citing the impact of the oil crunch caused by the war in the Middle East on the Asian powerhouse. “India now looks less attractive than North East Asian peers in the current macro setting,” the bank’s analysts said in a note today,