NEW YORK (AP) — U.S. stocks are nudging lower on Tuesday, and oil prices are rising again. It’s a modest return to form for financial markets after worries had seemed to calm on Wall Street Monday.

Implied volatilities jumped higher across asset classes last week as Middle East tensions escalated. Click to read.

A surging oil price is likely to trigger a depreciation in Asian currencies, notably the Thai baht, Taiwan dollar and Korean won, according to Barclays Plc.

Despite heightened tensions between Israel and Iran and resulting market speculation, oil supply from the Middle East remains largely unaffected, with the critical Strait of Hormuz staying open for navigation.

I avoid long-term oil investments due to unpredictable price swings, but high implied volatility now creates an opportunity to sell options for