The US benchmark crude oil price increased 4% to $74.26 per barrel, while the price of Brent crude, the global benchmark, increased 3.9% to $78.96 per barrel. After the two sides struck a temporary agreement to stop the battle and ships resumed shipping oil through the Strait of Hormuz, prices for both types of crude oil had lately dropped back to levels seen before to the start of the war with Iran.
However, after Iran attacked a cargo ship in the Strait of Hormuz over the weekend, setting it on fire and leaving one crew member missing, the United States launched multiple waves of strikes on Iran early on Monday morning. Iran replied by attacking Middle Eastern nations.
With the Euro Stoxx 50 rising 0.03%, France’s CAC 40 rising 0.02%, Germany’s DAX rising 0.16%, and the UK’s FTSE 100 falling 0.07%, European equities were largely flat on Monday afternoon.Other US stock futures contracts declined, with the S&P 500 contract down 0.4% and the Dow Jones Industrial Average contract down 0.3%. Futures for the Nasdaq Composite fell 1%.
Tokyo’s Nikkei 225 index fell 1.1% to 67,786.86 during overnight Asian trading, while Seoul’s Kospi fell 5.6% to 7,060.69. After rising 13% on their Wall Street debut on Friday, shares of South Korean memory chipmaker SK Hynix fell 10.6% in Seoul. Samsung Electronics, a larger competitor, had a 6.7% decline.
Also Read:
Top Democrats Attempt to Persuade Europe That Trump will Leave Office in Three Years
Peter Duliba: Empowering Businesses for Strategic AI Usage – Europeanmirror
