Geopolitics

Gate News, on March 13, U.S. President Trump stated that once the war with Iran ends, the economy will immediately rebound.

The United Arab Emirates suffered attacks from 7 missiles and 27 drones on March 13. The Abu Dhabi National Oil Company set the April Murban crude oil price at $69.45 per barrel. Meanwhile, a Middle Eastern family office has contacted Singapore regarding plans to relocate funds, which require compliance review.

Since the U.S. and Israel launched military strikes against Iran, shipping through the Strait of Hormuz has stalled, causing Gulf oil-producing nations losses of approximately $15.1 billion, with millions of barrels of crude oil stranded, severely affecting Middle East energy supply and global oil markets.

Gate News report: On March 13, U.S. President Trump made a statement regarding the Iran situation and the Strait of Hormuz issue. Trump stated that over the next week, the U.S. will strike Iran head-on in response to the Iran situation. Regarding the Strait of Hormuz situation, Trump said "let's wait and see." When discussing U.S. escort operations in the Strait of Hormuz, Trump stated that the U.S. will take action if needed.

Mitsubishi UFJ analysts point out that the oil price surge triggered by the Iran conflict may prompt some central banks to raise rates, but rate hikes amid weak economic conditions are unfavorable for currencies. The Reserve Bank of Australia is expected to raise rates by 25 basis points, with the Australian dollar becoming one of the best-performing G10 currencies.