Trump’s top national security aides meet secretly at Camp David on Iran, Yemen: Axios

Reports of secret high-level US national security meetings concerning Iran and Yemen suggest a potential escalation of geopolitical tensions in the Middle East. This development transmits through increased risk aversion and a repricing of geopolitical risk premia, particularly impacting crude oil markets due to the region's critical role in global energy supply. Assets most exposed include Brent and WTI crude futures, as well as regional equity markets and sovereign bonds, given the potential for supply disruptions or increased military engagement. Traders will closely monitor official statements from the US administration and any observable changes in military deployments or shipping activity in the Strait of Hormuz for further indications of policy direction.

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