• After a volatile week, Crude Oil trades flat and stabilizes near $75 on Friday. 
• Israel has signalled it is ready to retaliate against Iran’s attacks, increasing tensions and supporting Crude Oil prices.
• The US Dollar Index halts its rally after peaking at the highest level in nearly two months.

Crude Oil is back to square one for this week, stabilizing around Monday’s opening price near $75.00. The recovery from the lower levels seen earlier this week comes after Israel signaled it is ready to retaliate against Iran. The headline comes after United States (US) President Joe Biden had a phone call with Israel Prime Minister Benjamin Netanyahu on Wednesday, with President Biden urging not to attack Iranian oil installations. Meanwhile, Florida is measuring the damage of Hurricane Milton, and Oil platforms in the US Gulf of Mexico are preparing to reopen again. 

The US Dollar Index (DXY), which tracks the performance of the Greenback against six other currencies, slightly retraces on Friday after its small pop on Thursday, when the US Consumer Price Index (CPI) release for September made the DXY peak to 103.18. Unfortunately, it hit resistance and saw some profit-taking going into Friday’s.