As stocks continue to shrug off rising conflict in the Middle East, strategists argue that any major moves in oil futures will likely be the biggest driver of shifts in the equities market. “Oil prices will determine whether volatility persists,” Morgan Stanley chief investment officer Mike Wilson wrote in a note to clients on Monday…
Global shipping companies and businesses are closely monitoring developments around the Strait of Hormuz, after Iranian threats to disrupt shipping following the U.S. strikes on its nuclear sites in its “Operation Midnight Hammer“ The U.S. warned Iran that any move to shut the Strait would be “economic suicide” and trigger a severe response. Why It…
Global oil markets are bracing for another wild week after the United States launched direct strikes on Iranian territory over the weekend, raising fears of a retaliatory escalation that could threaten vital energy infrastructure and shipping lanes in the Middle East. Prices spiked to their highest levels in five months in early trading on Monday…
Brent Crude prices spiked as much as 5% on Monday following the US airstrikes on Iran’s key nuclear facilities on Sunday. The move ended days of speculation over whether the US President Donald Trump would join Israel in its confrontation with Iran.While prices surged initially, they soon pared gains. The attacks on Fordow, Natanz and…
TOKYO (AP) — Asian shares retreated Thursday as worries persisted about conflict in the Middle East. Ratcheting up tensions, President Donald Trump warned of the possibility of getting directly involved in the conflict with Israel, while Iran’s supreme leader rejected U.S. calls for surrender. Oil prices and U.S. futures declined. In Asian trading, Japan’s benchmark…
Oil is up roughly 10% since the outbreak of the Israel-Iran conflict, with Wall Street warning of further upside risk if Iran — a major oil producer — is destabilized. On Wednesday, West Texas Intermediate futures (CL=F) was little changed to settle at $75.14 per barrel following a bigger than expected decrease of US oil…