Oil prices registered declines in European trading Monday morning as markets digested news about Iran’s attack on Israel over the weekend. Comments from Israeli officials suggest the conflict is “not over” as market participants wait to see what happens.
Money went off the table last week after the price of Brent crude oil hit a nearly six-month high of $92.18. Crude oil futures were trading 0.9% lower at $84.87 (63.08 pounds) per barrel, while Brent crude was trading 0.8% lower at $89.74.
read more: FTSE 100 LIVE: European stock markets mixed as Middle East tensions rise
Iran announced that it launched drones and missiles toward Israel in retaliation for the April 1 attack on the Iranian consulate in Damascus, Syria. Israel has not confirmed whether it carried out the attack. Iran’s retaliation has raised concerns about wider conflict and oil supply backlogs in the Middle East.
Goldman Sachs (GS)
Goldman Sachs Bank is expected to report results on Monday before the opening bell in the United States, with quarterly results expected to be lower in the three months to the end of March.
Earnings are expected to be $8.56 per share, down from $8.79 per share in the year-ago period, according to Bazinga data.
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The company’s quarterly revenue is expected to be $12.9 billion, compared with $12.2 billion.
Shares closed 2% lower on Friday and were down another 0.6% in Monday’s premarket.
Morgan Stanley and Bank of America will also release their earnings reports on Monday.
Bitcoin and other digital assets rebounded on Monday morning following weekend losses on news that Hong Kong had given the first green light to Spot Bitcoin and Ether ETFs.
China Asset Management, Harvest Global Investments, and the partnership between Hashkey Capital, Inc. and Vocera Asset Management (International), Inc. announced the initial approval to the market in separate statements earlier today.
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Hong Kong’s approval comes after the U.S. Securities and Exchange Commission agreed to allow spot Bitcoin ETFs, allowing stocks like BlackRock to enter the market. Since then, the price of Bitcoin has increased from around $42,000 to over $66,300 today.
The digital asset was trading up more than 3% by mid-morning Monday. Ethereum also rose 5.4%, trading at around $3,250.
Video: Israel Defense Forces put on ‘high alert’ after Iran launches hundreds of drones and missiles
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