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Oil prices jump on mid-east attacks, safe-haven demand surges & week ahead

We join OANDA Senior Market Analyst Kelvin Wong and podcast host Jonny Hart in the latest Market Insights episode, where we discuss the latest financial market headlines, including oil pricing following strikes in the Middle East.

02-03-2026 14:51 GMT by Christian Norman

Safe-haven demand intensifies as US-Iran conflict extends - Gold, WTI Crude, Nikkei 225, AUD/USD short-term outlook

Safe-haven demand surges as the US-Iran conflict escalates, lifting gold above $5,360 and driving WTI crude past key $70 resistance. Equity markets slide while the US dollar firms. Gold’s uptrend holds above $5,238, oil confirms a major breakout, and the Nikkei 225 risks a deeper correction. AUD/USD remains supported above 0.7020 amid strong commodity tailwinds.

02-03-2026 05:52 GMT by Kelvin Wong