US EditionAsian Shares Are Mixed and Oil Gains as World Waits to See if US Will Join Israel’s War Against Iran
- Over the weekend, hostilities between Israel and Iran intensified, with Israeli airstrikes targeting Iranian oil infrastructure and Iran responding by halting nuclear negotiations.
- The conflict escalated after Israel's air offensive began on Friday targeting commanders and nuclear sites, which intensified hostilities and damaged energy infrastructure.
- Israeli strikes caused fires at Tehran's refinery and the South Pars gas field, partially suspending production at the world's largest gas field and raising global energy security concerns.
- Oil prices surged over 7% on Friday, pushing Brent crude to six-month highs as experts warned higher fuel costs could increase global inflation including in Australia despite no direct Iranian imports.
- The sustained conflict risks tightening global oil supplies, raising shipping costs, delaying deliveries, and prompting cautious monetary policies worldwide amid fears of a broader regional energy shock.
196 Articles
196 Articles
Oil Prices Surge as Israel-Iran Conflict Rattles Markets
Oil prices surged nearly 7% last week due to escalating conflict between Israel and Iran, growing fears over the Strait of Hormuz, falling U.S. inventories, and supportive signals from the Federal Reserve.
Israel-Iran war could set oil markets in fire, Goldman Sachs sees $10 per barrel spike
Goldman Sachs recently revised its assessment of geopolitical risk in oil markets, suggesting that Brent crude prices could climb by approximately $10 per barrel due to conflict in West Asia
1 dead, 1 injured in shooting outside Kearny Mesa hookah lounge
U.S. Treasury yields were little changed on Friday, even after Federal Reserve Governor Christopher Waller said inflation was softening to the point that the central bank could cut rates at its next meeting. The yield on the benchmark 10-year Treasury traded more than 2 basis points higher at 4.421%. The 2-year note yield hovered at 3.942%, while the 30-year bond yield ticked more than 2 basis points higher to 4.924%. One basis point is equivale…
Oil Prices Jump, European Markets Plummet As US-Iran Tensions Rise: What's Driving Markets Thursday? Oil Prices Jump, European Markets Plummet As US-Iran Tensions Rise: What's Driving Markets Thursday? - SPDR Gold Trust (ARCA:GLD)
With Wall Street shut for Juneteenth, global investors turned their eyes to the escalating conflict between Israel and Iran, triggering a sharp oil price rally and pulling European stocks to multi-week lows.
Israel's attack on Iran has greatly increased the price of crude oil, and the global economy is facing a severe setback. Above all, closing the Hormus road would have serious consequences. By Thomas Spinnler.
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