Oil prices rose on renewed U.S.-Iran tensions after Trump said the U.S. will not seek to extend its memorandum of understanding with Iran and threatened to bomb Oman, claiming the Gulf state could block a peace deal. The yen weakened to its lowest in two-and-a-half weeks against the dollar as persistently low FX volatility has boosted demand for carry trades—borrowing low-yield currencies to invest in higher-yielding ones—continuing to pressure the yen, ING analyst Chris Turner said. USD/JPY tra

Oil prices rose on renewed U.S.-Iran tensions after Trump said the U.S. will not seek to extend its memorandum of understanding with Iran and threatened to bomb Oman, claiming the Gulf state could block a peace deal. The yen weakened to its lowest in two-and-a-half weeks against the dollar as persistently low FX volatility has boosted demand for carry trades—borrowing low-yield currencies to invest in higher-yielding ones—continuing to pressure the yen, ING analyst Chris Turner said. USD/JPY traded as high as 159.77 intraday.