US EditionAsian Shares Are Mixed and Oil Prices Rise as Escalating Iran-Israel Crisis Hits Wall Street
- Israel and Iran intensified their conflict with fresh attacks on each other over the weekend, targeting Iran's oil and gas infrastructure.
- These attacks stem from a broader strategic effort by Israel to weaken Iran’s economic capacity and deter proxy activities amid ongoing geopolitical tensions.
- The strikes damaged key facilities including the South Pars gas field and Tehran refinery, causing fires and suspending production, while the full extent of physical damage remains under assessment.
- Oil prices surged more than 6% for Brent crude and over 5% for West Texas Intermediate after the attacks, reflecting supply concerns and adding a geopolitical risk premium as the Cboe Volatility Index rose to 20.82.
- The escalation risks tighter global energy supply, higher fuel costs, and delayed monetary easing in countries like Australia, while diplomats and markets brace for possible wider regional disruptions.
179 Articles
179 Articles
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.
Israel-Iran Conflict Impact On India: As the conflict between Israel and Iran is increasing, the prices of crude oil are also increasing at the international level, if this continues then the risk of inflation in the country may increase.
Since Israel's attack on Iran, crude oil prices have been rising and fuel and fuel oil prices have been rising. The EU and the US are alarmed - and want to act if necessary.
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