European markets set to start the week higher but oil prices remain in focus
CNBC
European stocks are expected to start the new trading week in positive territory despite the ongoing unrest in the Middle East and elevated global oil prices.
LONDON — European stocks are expected to start the new trading week in positive territory despite the ongoing unrest in the Middle East and elevated global oil prices.
The U.K.'s FTSE index is seen opening 0.26% higher, Germany's DAX and France's CAC 40 up 0.2% and Italy's FTSE MIB 0.4% higher, according to data from IG.
The U.S. and Israel's military operation against Iran remains the key focus for global markets. U.S. crude prices climbed Sunday evening, topping $100 per barrel again, as the White House weighed military strikes on Iran's key oil export facilities on Kharg Island.
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.