Page 96 - Texas Intermediate News Today

Oil prices briefly jumped more than 3% after reports of explosions near the Iranian city of Isfahan.

Oil prices briefly jumped more than 3% after reports of explosions near the Iranian city of Isfahan.

(Bloomberg) — US equity futures pared losses and the bid for haven assets unraveled after Iranian media appeared to downplay the impact of Israeli strikes. Oil switched to a decline, wiping out an earlier sharp jump that took the price of Brent crude above $90 a barrel. Treasury yields retraced much of an early move…

Benchmark equity indices opened lower for the fifth straight session on Friday, mirroring the trend seen in Asian markets, on reports of an escalation in geopolitical tensions in the Middle East. The S&P BSE Sensex was trading 598 points or 0.83% lower at 71,890. Nifty50 was trading at 21,814, down 181 points or 0.82% at around 9.18 am. Infosys, NTPC, L&T, Axis Bank, and Power Grid opened lower. Nifty IT, Media, PSU Bank, Realty, and Auto fell over 1% each.

KUALA LUMPUR: The FBM KLCI finished higher on Friday despite a generally weak market, partly due to increased tension in the Middle East that reduced investors' appetite for risk.

Oil prices could continue rising along with tensions in the Middle East.

Global crude oil prices surged over 3% following reports that Israeli missiles had struck a site in Iran, raising concerns about potential disruptions to Middle East oil supply.

The country is endowed with more natural resources as well. These consist of coal, lead, manganese, zinc, sulphur, chrome, copper, iron ore, and natural gas. The Israel attack may have an impact on these products' export and manufacture.

Oil prices briefly surged and stock markets slid Friday on reports Israel had carried out retaliatory strikes against Iran, boosting investments deemed safer such as gold.

Traders have been on edge since Saturday's barrage by Iran, which Israel's army chief General Herzi Halevi warned would be met with a response.