{"id":48345,"date":"2026-03-03T07:40:39","date_gmt":"2026-03-03T07:40:39","guid":{"rendered":"https:\/\/www.vtmarkets.com\/uncategorized\/cnbc-says-iran-launched-missiles-and-drones-striking-riyadhs-us-embassy-amid-wider-gulf-attacks\/"},"modified":"2026-03-03T07:40:39","modified_gmt":"2026-03-03T07:40:39","slug":"cnbc-says-iran-launched-missiles-and-drones-striking-riyadhs-us-embassy-amid-wider-gulf-attacks","status":"publish","type":"post","link":"https:\/\/www.vtmarkets.com\/en-asia\/live-updates\/cnbc-says-iran-launched-missiles-and-drones-striking-riyadhs-us-embassy-amid-wider-gulf-attacks\/","title":{"rendered":"CNBC says Iran launched missiles and drones, striking Riyadh\u2019s US embassy amid wider Gulf attacks"},"content":{"rendered":"Iran fired missiles and drones at several Persian Gulf countries, including a drone strike that hit the US Embassy in Riyadh, CNBC reported on Tuesday. A Saudi Defence Ministry spokesperson said the embassy was attacked with two drones.\n\nThe spokesperson said the attack caused a limited fire and minor material damage to the building. No other details were provided.\n\n

Market Reaction And Immediate Positioning<\/h3>\nGold (XAU\/USD) was 0.49% higher at $5,358 at the time of writing. West Texas Intermediate (WTI) was up 0.40% at $71.60.\n\nWe should anticipate a significant spike in market volatility, as measured by the VIX, in the immediate future. This direct attack on a US embassy by a state actor is a major escalation that will inject fear into global markets. Consequently, we are buying VIX call options to profit from the rising cost of portfolio insurance.\n\nThe initial 0.40% rise in WTI crude oil is a muted reaction that presents a clear opportunity for traders. Looking back at the Abqaiq facility attacks in 2019, which caused Brent crude to jump nearly 20% in a single day, we see a precedent for a much larger price move. We are therefore buying near-term call options on crude futures, anticipating that fears of a disruption to supply through the Strait of Hormuz will drive prices sharply higher.\n\nGold\u2019s move to $5,358 is part of a larger trend, as central bank buying already hit record levels in the final quarter of 2025. This geopolitical crisis will only accelerate the flight to safety and further strengthen the metal\u2019s fundamental support. We see value in adding to long positions through call spreads on gold futures, capitalizing on the upward momentum.\n\n

Equity Risk And Hedging Approach<\/h3>\nThis event is a negative catalyst for equities, which were already facing headwinds from stretched valuations as we came out of 2025. We expect a broad market sell-off as institutions de-risk their portfolios in the face of this new uncertainty. Buying put spreads on the S&P 500 and Nasdaq 100 indices offers a direct way to hedge existing long positions or speculate on a market downturn.\n\nCreate your live VT Markets account<\/a>\u00a0and\u00a0start trading<\/a>\u00a0now. <\/b>\n

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Start trading now – Click here<\/a> to create your real VT Markets account <\/strong> <\/p>\n","protected":false},"excerpt":{"rendered":"

Iran launched missiles and drones across Gulf states; two drones struck US Embassy Riyadh, sparking fire.<\/p>\n","protected":false},"author":103,"featured_media":0,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[59],"tags":[],"class_list":["post-48345","post","type-post","status-publish","format-standard","hentry","category-live-updates"],"acf":{"acf_article_selection_author":null},"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\n\t\t