[U.S.-Iran Conflict Triggers Oil Market Volatility, Investors Reduce Bets on Fed Rate Cut in June] According to a report by Cailian Press, over the weekend, attacks by the U.S. and Israel on Iran caused turbulence in the international oil market. Many on Wall Street believe these attacks could also reduce the likelihood of the Federal Reserve cutting interest rates this year. Based on the CME FedWatch Tool, investors further recalibrated their interest rate expectations on Monday and reduced bets on the Fed initiating a rate cut in June. The probability of rates remaining unchanged at the June meeting is now 47%, up from 42.7% last Friday.