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Electronic board showing Nikkei average stock price in Tokyo on Monday
Hong Kong/London
CNN
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Oil prices fell on Monday, but gold rose as rising geopolitical tensions in the Middle East increased demand for safe investments after Iran launched an unprecedented attack on Israel. Global stocks were mixed.
Brent crude oil prices fell below $90 a barrel, and U.S. WTI crude oil fell 1% to $84.50 by 4:46 a.m. ET. Traders are keeping an eye on what Israel does next.
Oil prices hit their highest since October on Friday in anticipation of Iranian government retaliation for an alleged Israeli attack on Iranian diplomatic facilities in Syria. U.S. crude oil futures have risen 18% since the beginning of the year. Brent crude, the global oil benchmark, rose more than 16%.
Europe’s benchmark Stoxx600 index rose 0.3% in mid-morning trading, while Germany’s DAX and France’s CAC40 index rose 0.8% and 0.6%, respectively. London’s FTSE 100 fell 0.4%.
Hong Kong’s Hang Seng index ended 0.7% lower. Japan’s Nikkei Stock Average ended 0.7% lower, while China’s Shanghai Composite Index ended 1.3% lower. taller than.
spot gold rose 0.3% on $2,349 per ounce on Monday.It hit an all-time high of $2,431 an ounce on Friday. This is due to concerns about a possible attack on Israel by Iran. Bullion has soared nearly 14% so far this year.
US gold futures fell 0.3% on Monday. It’s up 14% this year.
The Paris-based International Energy Agency, which monitors oil markets on behalf of developed countries, said on Monday that Iran’s airstrikes on Israeli military facilities over the weekend raised the risk of increased instability in the oil market and threatened oil security. He said it was a reminder of its importance. .
Analysts at ANZ said in a research note that the attack raises concerns about the potential for disruption to global oil supplies.
“The extent of that risk is likely to be determined by the Israeli government’s response,” the analysts added.
Israel’s war cabinet met for several hours on Sunday to discuss the response and was scheduled to meet again at 7 a.m. ET on Monday, an Israeli official told CNN.
The Middle East entered uncharted waters after Iran fired dozens of missiles toward Israel late Saturday. The Israeli military announced that “99%” of the more than 300 projectiles were intercepted by Israel and its partners.
U.S. stocks ended sharply lower on Friday as Wall Street worried about escalating tensions in the Middle East ahead of the Iran attack.
US stock futures rose cautiously after US President Joe Biden and his national security team said the US would not engage in any counterattack against Iran as it seeks to limit the risk of a wider regional war. There is.
Dow futures rose 150 points, or 0.4%, in European time on Monday. The S&P 500 and Nasdaq futures both rose 0.6%.
