Oil, USD/JPY Forecast: Two trades to watch

Published Jul 22, 2026 4:44 AM Source: Forexcom Event Time: Jul 22, 2026 4:44 AM

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Oil, USD/JPY Forecast: Two trades to watch

Source: Forexcom - https://www.forex.com/en-us/news-and-analysis/oil-usd-jpy-forecast-two-trades-to-watch/
Published: Jul 22, 2026 4:44 AM

Oil prices are extending gains towards a six-week high amid fears of further supply disruption after the U.S. and Iran exchanged fire for an 11th consecutive night. Meanwhile, oil tankers made U-turns in the Red Sea following warnings of disruption from Iran-backed Houthi forces.

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