Market Jitters: Oil Prices Surge, Stocks Slide Amid Middle East Tensions
10 Articles
10 Articles
While the price of a barrel of oil was slightly down – at $78 – at midday on Thursday, July 9, it had closed sharply higher the previous evening, driven by renewed tensions in the Middle East and Donald Trump's announcement of ending the ceasefire with Iran. With new strikes taking place in the Gulf overnight, Goldman Sachs is concerned about the potential impact of this latest escalation on energy prices.
Contrary to the outbreak of the conflict at the end of February, prices of black gold do not explode, despite the resumption of hostilities between Iran and the United States. One of the reasons is to look for oil supply, which may prove abundant in the coming years.
Stock markets are attempting to recover some of the significant losses of the previous session, although investors remain cautious - Brent at $77
Trump has drawn 19 cards, all hell could break loose in the Middle East - Everything that the US and Iran achieved through three months of negotiations has collapsed.
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