Oil climbs as US-Iran tensions escalate; Warsh comments fuel rate-hike bets

Oil prices rose Monday on renewed US-Iran tensions in the Middle East, adding a geopolitical risk premium. Concurrently, comments from Fed Governor Warsh suggesting potential US rate hikes pressured risk sentiment, though the net market impact is mixed. The escalation marks a continuation of recent friction, with the specific trigger and scope of the flare-up still unclear.