Oil company share prices have risen as oil prices continued to increase amid conflicts in the Middle East. Both Brent and West Texas Intermediate saw a more than 2% increase, leading to gains for companies like BP, Shell, TotalEnergies, and Eni. European stock markets also saw gains, with the Ftse 100, CAC 40, and Stoxx 600 indices all up.
Investors are closely watching the situation in the Middle East after Iran launched a missile attack on Israel in response to the killing of Hezbollah leader Sayyed Hassan Nasrallah by Israeli forces. Oil prices surged as a result, with Brent crude futures rising by 3.8%. Asian stock markets, however, slumped, with indices in Japan, South Korea, and Australia all falling.
In the midst of this uncertainty, investors are awaiting Israel’s response to Iran’s attack. Israeli forces have also been engaged in conflicts in Lebanon and Gaza, leading to heightened geopolitical risks. Markets are on edge as they wait to see how the situation will unfold.
Overall, the rise in oil prices and geopolitical tensions have created volatility in the markets, with investors closely monitoring developments in the Middle East. This has also led to a surge in oil company share prices and fluctuations in global stock markets.
Source
Photo credit www.theguardian.com
