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Oil rises as US strikes on Iran raise fears over shaky truce
U.S. strikes on Iran and a revoked sanctions waiver lifted crude more than 2%, as traders warned of wider supply disruptions.
- Oil prices surged more than 3% on Wednesday following U.S. strikes on Iran after attacks on three ships in the Strait of Hormuz, with Brent crude jumping 3.2% to $76.54 a barrel.
- Market uncertainty grew alongside concerns that the craze for AI-related shares has pushed prices beyond productivity gains, as Ipek Ozkardeskaya of Swissquote warned further conflict escalation could weigh heavily on equity valuations.
- The Nasdaq fell 1.2% and the Dow Jones Industrial Average dropped 0.2% on Wednesday, while Samsung Electronics declined 6.7%, Intel shed 9.7%, Advanced Micro Devices sank 6.5%, and Hynix fell 3.6%.
- Despite the expiration of a six-month lock-up period, State-owned China National Radio reported nearly 70% of cornerstone investors committed to stay on, as Knowledge Atlas Technology, known as Zhipu, rose 14%.
- Tokyo's Nikkei lost 1.2% and the Kospi in South Korea shed 5.6% as regional markets reacted to volatility, while The Shanghai Composite index declined 0.3% amid the broader Asian market shift.
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US attacks on Iran and reactivated sanctions catapult the Brent price up by 6 percent within days. The Strait of Hormus becomes a powder keg with direct consequences for energy costs worldwide.
Lithuanian president backs US strikes on Iran, calls it ‘our war’
Lithuanian President Gitanas Nausėda expressed solidarity with the United States on Wednesday following an exchange of strikes between Washington and Iran, saying the conflict also affects Lithuania’s security interests.
·Vilnius, Lithuania
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Idaho Press+4 Reposted by 4 other sources
Oil prices jump more than 2% after US strikes on Iran, while world shares retreat
Shares are mostly lower in Europe and Asia and oil prices surged more than 2% after the U.S. launched strikes on Iran. Stocks in South Korea dipped 5.4% following a retreat on Wall Street as the AI roller-coaster took tech…
·Cherokee County, United States
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Coverage Details
Total News Sources68
Leaning Left12Leaning Right16Center18Last UpdatedBias Distribution39% Center
Bias Distribution
- 39% of the sources are Center
39% Center
L 26%
C 39%
R 35%
Factuality
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