Marketmind: Oil jumps as Middle East strife shakes markets

Asian action has been dominated by news from Israel, with the usual safe-haven suspects getting a bid. With one war already raging in Europe, a new conflict in the Middle East was bound to rattle the markets.

The yen is up modestly on the safety bid, while the euro, in a region with high exposure to energy costs, is lagging. The U.S. is an oil exporter, after all. For equities, U.S. and Nikkei stock futures are down around 0.7%. Up to now, Washington is seen to have taken a softer stance on the Iranian oil embargo as it tried to broker a grand peace deal across the Middle East. But that could change, particularly if U.S. citizens were killed in the fighting.

A sustained rise in oil prices would be an unwelcome blow to inflation but also a tax on consumers, so the implication for interest rates isn't straightforward.

Finance Finance Latest News, Finance Finance Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Marketmind: Oil jumps as Middle East strife shakes marketsWith one war already raging in Europe, a new conflict in the Middle East was bound to rattle the markets. Analysts are pondering the implications of the...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

U.S. stocks slip, oil surges on Middle East violenceU.S. stock futures slipped in Asia on Monday as the military conflict in the Middle East boosted oil and Treasuries, while the sizzling September U.S. jobs...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

U.S. stocks slip, oil surges on Middle East violenceExplore stories from Atlantic Canada.
Source: SaltWire Network - 🏆 45. / 63 Read more »

Oil prices jump as Middle East violence roils marketsOil prices jumped more than $3 a barrel in early Asian trade on Monday, as dramatic military clashes between Israeli and Hamas forces over the weekend...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Oil prices jump as Middle East violence roils marketsExplore stories from Atlantic Canada.
Source: SaltWire Network - 🏆 45. / 63 Read more »