Oil Prices Rise to Five-Month High A Day After US Strikes Iran’s Nuclear Sites | N18G
Oil Prices Rise to Five-Month High A Day After US Strikes Iran’s Nuclear Sites | N18GOil prices surged to a five-month high on Monday amid rising tensions in West Asia. Brent Crude Futures rose 2.49% to $78.93 a barrel, while US West Texas Intermediate crude advanced 2.56% to $75.73. Meanwhile, shares in Asian markets slipped as the US joined Israel in attacking Iran. Indian equity benchmarks fell 1% a day after the US struck three Iranian nuclear sites. The MSCI Index of Asia-Pacific shares outside Japan also dropped 1%. Chinese blue chips and Japan’s Nikkei declined 0.2% and 0.6%, respectively. The US dollar, however, advanced as anxious investors sought safety amid ongoing geopolitical concerns. In the digital asset market, Bitcoin dropped to its lowest level since May, briefly falling below the $99,000 mark. Meanwhile, Ether also reportedly plunged over 10%, becoming the first to react to the conflict. Gold prices also slipped, with spot gold down 0.4% at $3,354.03 an ounce earlier today.
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