Oil Prices Jump and Asian Shares Slip as US and Iran Carry Out Airstrikes
Oil climbed more than 3% as US strikes on Iran and disputed Hormuz claims lifted inflation worries and pushed Treasury yields higher.
- Gulf share markets dipped Monday as US and Iran tensions rose, with Brent crude climbing more than 3% to $78.50 a barrel amid supply disruption concerns.
- The US Central Command launched strikes Sunday aimed at weakening Iran's ability to strike civilian vessels, following Iranian drone and missile attacks on Kuwait, Jordan, and Qatar.
- Confusion persists over the Strait of Hormuz, with Iran claiming closure while US military reports around 20 vessels transited in 24 hours, as 10-year Treasury yields rose two basis points to 4.58%.
- Investors brace for earnings season with Goldman Sachs Group Inc. and JPMorgan Chase due to report Tuesday, while Nasdaq 100 Index futures retreated 0.1% amid geopolitical uncertainty.
- Elsewhere this week, Asian markets look to China's second-quarter growth data for signs of slowing demand, while analysts at Citi maintain an Overweight stance on global IT and the US.
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47 Articles
US airstrikes on Iran cause oil prices to rise in the morning and stock market prices to fall. The DAX is expected to start the new week with a significant drop.
That night, too, the U.S. launched attacks on targets in Iran, which is the fourth wave of attacks, and the ongoing hostilities are making themselves felt in the energy markets.
Global Oil Prices Jump Over 4% as US-Iran Tensions Raise Supply Concerns | 🌎 LatestLY
Global oil prices surged more than 4% on Monday, with investors reacting to escalating tensions between the United States and Iran and renewed concerns over potential disruptions to crude supplies through the Strait of Hormuz. Brent crude climbed close to USD 79 per barrel, while U.S. West Texas Intermediate (WTI) rose over 4% to around USD 74.32 per barrel. 🌎 Global Oil Prices Jump Over 4% as US-Iran Tensions Raise Supply Concerns.
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