European markets set to open lower as oil prices jump despite reserve release
CNBC
European stocks are expected to open lower on Thursday as investors monitor the Iran war and global oil prices.
LONDON — European stocks are expected to open lower on Thursday as investors monitor the Iran war and global oil prices.
The U.K.'s FTSE index is seen opening 0.2% lower, Germany's DAX down 1%, France's CAC 40 0.8% lower and Italy's FTSE MIB 1.1% lower, according to data from IG.
Oil prices are in focus after the International Energy Agency on Wednesday agreed to release 400 million barrels of oil to address the supply disruption triggered by the Iran war.
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.