Asia markets open lower, tracking Wall Street losses, as Iran conflict sends oil prices soaring
CNBC
Overnight, oil prices broke through the $80 per barrel mark, with Brent futures up 3.54% and last trading at $84.31.
Asia-Pacific markets were lower Friday, tracking Wall Street losses overnight, as the Iran conflict sends energy prices higher.
Overnight, oil prices broke through the $80 per barrel mark, with Brent futures last trading at $83.49. U.S. West Texas Intermediate, which saw its biggest single day gain since May 2020, was last down 2.77% at $78.76.
More uncertainty was also seen on the global trade front after New York Attorney General Letitia James and the top prosecutors of 23 other states once again sued to block President Donald Trump's global tariff regime.
Gold prices rose for a fifth consecutive session on Tuesday, as investors sought safe-haven assets amid an escalating U.S. and Israeli air war against Iran.
The yen and euro were lower on Tuesday as the widening Middle East conflict focused attention on countries dependent on energy imports.
Oil prices continue to rise Iran's Revolutionary Guard says it has closed the Strait of Hormuz,
European stocks are expected to start the new trading week firmly in negative territory.
Oil prices jumped to their highest levels in months on Monday as Iran and Israel escalated attacks in the Middle East, disrupting shipments from the region.
Gold prices rose on Monday after the U.S. and Israel launched strikes on Iran, killing Supreme Leader Ayatollah Ali Khamenei, deepening global uncertainty.
Oil futures on Monday jumped by over 8%, with West Texas Intermediate futures and Brent trading at $72.52 and $79.04 per barrel respectively.
European markets finished mixed as more earnings reports and economic data were in focus.