Palladium futures rose past $1,570 per ounce, rebounding after recent losses as escalating geopolitical tensions stoked concerns over supply and broader market stability. The gains came amid ongoing conflict between the United States and Iran, with no signs of hostilities easing. Oil prices surged sharply after Donald Trump suggested the stand-off could continue for several more weeks, disrupting flows through the strategic Strait of Hormuz and raising fears of prolonged energy shortages. Investor caution rose as higher oil costs could further constrain vehicle production, limiting the use of palladium in catalytic converters and supporting prices. On the supply side, intermittent disruptions in South African palladium output continue to tighten medium-term supply. Over the past month, palladium has slipped 6.8%, but it remains 63.5% higher than a year ago.
