Iranian Army Spokesman: In the event of a new war, the geographical scope of the conflict will not be limited to the West Asia region.

An Iranian army spokesman stated that any new war would not be confined to the West Asia region, signaling a potential widening of the geographic scope of hostilities. The transmission channel here is risk premia in energy and safe-haven assets: expectations of a broader conflict typically lift crude oil prices through supply-disruption fears, particularly given the region's role in global shipping routes and hydrocarbon output. Assets most exposed include Brent and WTI crude, tanker and shipping equities, defense contractors, and gold and U.S. Treasuries as flight-to-safety instruments, while regional equities and the Iranian rial face direct geopolitical discounting. Traders should watch the next OPEC+ production decision and weekly EIA crude inventory data for evidence of whether the rhetoric is translating into physical supply concerns or remains a headline-driven risk premium.

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