The US-Iran conflict triggered volatility in the oil market, prompting investors to reduce their bets on a June rate cut by the Federal Reserve.

CoinFeed reported on March 2nd that the weekend attacks on Iran by the US and Israel triggered turmoil in the international oil market. Many Wall Street figures stated that these attacks may also reduce the likelihood of a Federal Reserve rate cut this year. According to the CME Group's FedWatch tool, investors further recalibrated their interest rate expectations on Monday and reduced their bets on a June rate cut. The probability of the Fed maintaining the current interest rate at the June meeting is now 47%, up from 42.7% last Friday.