EU Market Open: US-Iran conduct tit-for-tat strikes, lifting crude benchmarks; DXY flat in holiday-thinned conditions

US launched strikes against three Iranian crude oil tankers on Saturday, which destroyed one. A move in retaliation for the IRGC targeting US Navy warships with ballistic missiles. Iran’s navy also targeted three oil tankers that were travelling through unauthorised routes in the Strait of Hormuz.Iran's top security official Rezaei said Iran and Oman will sign agreed Strait of Hormuz passage maps in the coming days.APAC stocks traded mixed; European equity futures are indicative of a slightly weaker open.DXY trades lacklustre in holiday-thinned conditions; G10s are steady against the USD.Crude benchmarks are firmer this morning following US-Iran tit-for-tat strikes. Elsewhere, major OPEC+ countries stuck with the plan to keep oil output quotas unchanged for October.Looking ahead, highlights include, German Industrial Production (Jul), Swedish CPI (Aug), EZ GDP (Q2), EZ Employment Change (Q2).Holiday: Labor Day in the US and Canada.Desk Schedule: Desk will be open as usual on Sunday, 6th September until 18:00BST/13:00EDT on Monday, 7th September, due to the US market closure. Thereafter, the desk will resume normal service from 22:00BST/17:00EDT.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk