Circle (CRCL) shares climbed 9.7% on Monday, marking an 86% increase over the past month. The surge is attributed to rising crude oil prices, up 35% since February 28 due to escalating tensions in Iran, which have heightened inflation expectations and may delay Federal Reserve rate cuts. This environment benefits stablecoin issuers like Circle, which earn returns from U.S. dollar investments. Additionally, a short squeeze contributed to the rally, as hedge funds had significant short positions before Circle's strong Q4 earnings, with short interest at 13% of outstanding shares.