The U.S. dollar surged higher Monday, hitting a three-month high as an escalation in the U.S.-Israel war with Iran sparked a rally in oil prices.

At 03:00 ET (08:00 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, traded 0.6% higher to 99.557, climbing to the highest level since late November 2025.

 Bitcoin climbed on Monday after slipping over the weekend, but remained rangebound as an escalating conflict between the U.S., Israel and Iran sent oil prices surging and rattled global markets.

The world’s largest cryptocurrency rose 3% to $69,350.0 by 10:38 ET (14:38 GMT), after falling below $66,000 earlier in the session.

U.S. crude oil futures climbed more than 10% on Friday, pulling closer to Brent as buyers sought available barrels, with Middle Eastern supply constrained by the effective closure of the Strait of Hormuz amid the expanding U.S.-Israeli conflict with Iran. 

Brent crude futures were up $5.42, or 6.35%, at $90.83 a barrel at 10:37 a.m. CST (1637 GMT). West Texas Intermediate crude (WTI) was up $7.81, or 9.81%, at $88.96.

Gold prices rose Friday, boosted by signs of U.S. labor market weakness which weighed on the dollar, but were still headed for weekly losses.

At 08:50 ET (13:50 GMT), Spot gold traded 0.7% higher at $5,117.52 an ounce and gold futures gained 0.9% to $5,124.70/oz.

The precious metal was on track to slip around 3% this week, with recent strength in the dollar and reduced interest-rate-cut expectations pressuring bullion.