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Energy prices soar on Iran war fallout, stocks mostly fall
Iran-linked attacks halted Qatar LNG output and closed the Strait of Hormuz, which carries about 20% of seaborne oil, causing energy prices to soar over 6%, analysts said.
- Tuesday's market session saw world crude futures jump more than six percent as the Strait of Hormuz was effectively shut and ships were attacked.
- Attacks on shipping and facilities forced the Strait of Hormuz effectively shut with several ships attacked, while the OPEC+ oil cartel announced a larger-than-expected production-quota increase on Sunday.
- Markets reacted across assets as investors fled into safe havens, the greenback rose around 1 percent, and gold finished 0.8 percent higher, with energy stocks rising sharply.
- Market strategists said Angelo Kourkafas of Edward Jones warned that if Iran-linked attacks continue, no spare global capacity may fill the shortfall, raising supply risks.
- Market strategists warned that what happened over the weekend and what continues now has created added uncertainty, with investors scuttling towards safe havens as conflict widens in the Middle East.
25 Articles
25 Articles
Global commodity prices surge as Iran fallout widens
Global commodity prices surged as the fallout from the US and Israeli war with Iran reverberated beyond the Middle East. The benchmark international oil price rose 4%, reaching its highest level in more than a year, as traffic through the Strait of Hormuz ground to a halt. European gas prices skyrocketed around 70% this week after Qatar said it would halt liquefied natural gas output. India, for example, slashed gas sales to industrial firms, an…
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Energy prices soar on Iran war fallout, stocks mostly fall
Oil and gas prices soared, stock markets mostly retreated and the dollar rallied on Monday as the widening Iran war shook financial markets across the globe.
Energy prices soar while stocks fall as Iran retaliates
Sponsored content Andrew Gillham, head of fixed income at Team Asset Management, offers this week’s global market review GLOBAL stocks sank on Monday following the US and Israeli strikes against Iran, which eliminated senior figures in the regime, including Ayatollah Ali Khamenei. While the possibility of US military action had been flagged from some time as talks on Iran’s nuclear programme faltered, the scale of the retaliation was a surprise,…
Nigeria Caught in US-Iran War Fallout
Rising tensions between the United States and Iran have pushed global oil prices sharply upward, placing Nigeria in a familiar but uncomfortable position: the prospect of higher export earnings alongside renewed pressure on domestic fuel prices. Crude prices surged after the latest escalation in the conflict, with Brent climbing toward the $80 per barrel mark and analysts warning that prices could spike further if hostilities disrupt supply rout…
The attack on Iran and the renewed escalation of the conflict in the Middle East have sparked concerns about oil and gas supplies to Europe and rising commodity prices. However, in an interview with Polsat News, Energy Minister Miłosz Motyka assured Poland that there is no threat of an energy crisis. "Energy security is fully guaranteed," he emphasized.
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