6 Days
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وكالة مدار نيوز
Hormuz escalation affects markets
The halt to the military escalation between the United States and Iran in the Gulf region has had a direct impact on the financial markets. Oil prices rose to their highest levels since June, with Brent crude surpassing $90 per barrel and West Texas Intermediate crude increasing to around $84.7. This came amid a decline in maritime traffic through the Strait of Hormuz and a drop in the number of passing ships to the lowest levels in years due to security risks. Conversely, the dollar appreciated against most major currencies due to geopolitical tensions, while gold prices fell by 0.4% to approximately $2,000 per ounce. There are also expectations of a potential interest rate hike in the United States to mitigate inflationary pressures stemming from the rise in oil prices.
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