Crude Oil, USD/JPY Outlook: Dollar and Oil Rebound as Hormuz Risks Persist

Persistent shifts in sentiment surrounding a potential US-Iran agreement continue to reinforce, rather than eliminate, geopolitical risks. As a result, both crude oil and the US Dollar Index (DXY) have regained ground, with the DXY holding above its 2026 uptrend support near 99.30 and WTI crude remaining firmly above the $70 mark.