Asian shares retreat as report of damage to oil takers pushes oil prices higher
Oil prices rose more than 2% after Iran state television reported seven tankers were damaged, pressuring tech shares and futures.
- On Thursday, Brent crude gained 2.1% to $111.11 per barrel following reports from Iran's state television that seven oil tankers caught fire and were damaged in the Strait of Hormuz.
- Market uncertainty regarding the war with Iran has caused energy prices to fluctuate between $97 and $112 in recent days, as the global energy industry awaits clarity on when normal operations will resume.
- Following Wednesday's strong profit reports from SpaceX and Capital One Financial, world shares and U.S. futures retreated on Thursday as investors reacted to the incident.
- Tech stocks faced pressure on Thursday, with SoftBank Group falling 6.9%, amid concerns that higher borrowing costs may slow construction of new data centers.
- High inflation and interest rates continue to challenge Wall Street, requiring companies to meet elevated profit expectations to justify the significant stock price gains made during the summer.
37 Articles
37 Articles
Idaho State Journal
World shares retreat as report of damage to oil takers pushes oil prices higher
World shares and U.S. futures have retreated after oil prices jumped more than 2%. European markets opened lower Thursday and benchmarks in Seoul and Hong Kong fell more than 3%. Tokyo's Nikkei 225 fell 2.7%. The price of Brent crude…
The Asian exchanges and futures of the U.S. retreated this Thursday, while oil prices jumped more than 2% after a report from Iranian state television inform that seven oil tankers caught fire and were damaged in the Strait of Ormuz. Exclusive material for subscribers. To have full access, access the link of the matter and register.
Oil prices rose more than 2 percent after a drone attack on Saudi Aramco's Shaybah oil field added to concerns about further disruptions to energy supplies. Brent crude, the international benchmark, was trading at $111.40 a barrel, up 2.4 percent, while U.S. West Texas Intermediate (WTI) crude rose 2.22 percent to $99.30 a barrel. The attack, which killed two people, revived concerns about the security of energy infrastructure in the Middle East…
Cherokee Tribune Ledger News
Asian shares retreat as report of damage to oil takers pushes oil prices higher
Asian shares and U.S. futures have retreated after oil prices jumped more than 2%. Benchmarks in Seoul and Hong Kong fell more than 3% and Tokyo's Nikkei 225 fell 2.7%. The price of Brent crude oil was hovering near $111…
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