US Dollar Index Surges to 101.056 Overnight as Strait of Hormuz Tensions Escalate, Oil Up 3%

According to Yonhap InfoMax, on July 7, the US Dollar Index rose to 101.056, up 0.190% (0.192 points), as geopolitical tensions in the Strait of Hormuz intensified. The British maritime authority UKMTO reported that three tankers, including a product tanker and vessels from Qatar and Saudi Arabia, came under attack by unidentified unmanned aerial vehicles over the past 24 hours, sustaining minor structural damage.

The US Treasury Department's Office of Foreign Assets Control announced it will revoke general licenses allowing Iranian crude oil and petroleum product sales, effective within 60 days through August 21. Brent crude oil September delivery surged 3.01% to $74.16 per barrel. The Joint Maritime Information Center upgraded the Strait of Hormuz threat level from "substantial" to "critical," reflecting heightened risks in the critical waterway.