Oil Prices Surge Amid U.S.-Iran Tensions | Global News
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Oil Prices Surge Amid U.S.-Iran Tensions | Global News
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U.S. airstrikes on Iran sent shockwaves through global markets, triggering a five percent jump in oil prices and sparking a volatile trading day. After a brief reprieve following a ceasefire deal and Hormuz shipping resumption, the renewed conflict reignited fears of inflation and economic slowdown. While European stocks edged up, U.S. indices opened lower and Asian markets tumbled—Tokyo down nearly 2%, Seoul’s Kospi hitting a May low—driven by sharp declines in memory chip giants SK Hynix and Samsung. With energy prices climbing and inflation pressures mounting, central banks may face renewed pressure to hike rates, potentially slowing growth and weighing on investments worldwide.
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