Oil rises as Middle East conflict intensifies
Global markets showed mixed signals on Tuesday as escalating tensions in the Middle East pushed oil prices higher and kept investors cautious.
U.S. stock futures edged slightly lower, with Dow futures down 0.1 percent, while S&P 500 and Nasdaq futures remained largely unchanged as markets assessed the trajectory of the ongoing Iran conflict, News.az reports, citing BBC.
Fresh missile and drone attacks were reported across several regions, including Israel, Kuwait and Saudi Arabia, highlighting the continued volatility despite earlier signals of potential diplomatic engagement.
The Strait of Hormuz, a critical global oil transit route, remains largely restricted, disrupting energy flows and driving crude prices upward. Brent crude rose to around 101 dollars per barrel, significantly higher than pre-conflict levels.
Rising energy costs have renewed concerns over global inflation, with analysts warning that central banks may delay interest rate cuts. Gold prices steadied, while the U.S. dollar strengthened amid persistent uncertainty.
Investors are now closely watching upcoming U.S. economic data, including business activity indicators, for early signs of how the conflict is impacting the global economy.
By Faig Mahmudov
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