Brent crude oil is back near US$74.50

For a rundown of geopolitical developments on Tuesday:

• Forexlive European FX news wrap: The US Dollar adds to yesterday’s gains
• Forexlive Americas FX news wrap: Iran hits Israel with missile attack

The significant escalation sent oil prices higher. Brent has traded up near $74.50 during Asia time.

Its going on towards 5 am in Israel and Lebanon, and just after in Iran. We should be getting fresh news flow out of the region soon.

This article was written by Eamonn Sheridan at www.forexlive.com.