The U.S. dollar jumped on Monday as soaring oil prices sent investors scrambling for cash on worries that a protracted Middle East war could severely disrupt energy supplies and hurt global growth. Stocks, bonds and precious metals slid on Monday as investors, spooked by the impact of surging oil prices on global inflation and economic growth, turned risk-averse and cashed in on some of their most profitable trades. "Silver extended last week's decline as a sharp rise in crude oil prices raised concerns that inflationary pressures could intensify again," Saumil Gandhi, Senior Analyst, Commodities at HDFC Securities. The report sent oil prices retreating slightly after they earlier spiked to just shy of $120 per barrel. Higher energy prices tend to feed into broader inflation expectations, which may delay the pace of interest rate cuts by the Federal Reserve.

Source: The Telegraph March 09, 2026 12:35 UTC