A further escalation in Iranian-Israeli tensions could take oil prices above $80 and would mean more upside for the dollar.

Tankers fixtures have slowed to a trickle in the Middle East Gulf as Israel and Iran continued to launch missile attacks. But what business there was attracted much higher rates, with VLCC spot earnings jumping 20% on Friday. Sentosa Ship Brokers said the main Middle East Gulf to Japan VLCC route has added $12,000 per day to hit $31,000.

US consumer sentiment improved for the first time in six months in June as trade tensions between the United States and China eased. The University of Michigan's Consumer Sentiment Index rose to 60.5 in June from a final reading of 52.2 in May, beating the estimation of 53.5. The upbeat US economic data could lift the Greenback in the near term.

Britain ‘not at war’ despite sending more RAF jets to the Middle East, Reeves says - Rachel Reeves said Britain may play a military role in helping Israel as the conflict intensifies