Asia-Pacific markets tumble after Iran strikes, oil futures spike by over 8%
CNBC
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.
Asia-Pacific markets tumbled Monday as the conflict between Iran and U.S.-Israel escalates, following the death of Iranian Supreme Leader Ayatollah Ali Khamenei, raising concerns over energy supplies.
U.S. President Donald Trump said Sunday that combat operations in Iran will continue after three U.S. servicepersons were killed.
Oil futures jumped by over 8%, with West Texas Intermediate futures and Brent last trading at $72.52 and $79.04 per barrel, respectively. Gold futures jumped 2.3% as investors piled into the global safe haven.
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.