Oil Prices and Stocks Swing Wildly as Iran and Israel Launch New Strikes
Oil prices and stocks initially swung wildly, and Iran’s foreign minister promised “surprises,” calling the strikes against his country “Operation Epic Mistake.”
Oil prices and stocks initially swung wildly, and Iran’s foreign minister promised “surprises,” calling the strikes against his country “Operation Epic Mistake.”
Finance ministers for the seven industrialized countries met on Monday and said they would consider releasing oil from reserves but were not ready to do so now.
The opening days of the conflict are challenging the idea that President Trump can project force abroad while safeguarding American lives and the economy.
Prices for liquefied natural gas have shot up in recent days, which could bring bigger profits for European and U.S. energy companies.
Markets in Europe and the United States appeared to stabilize after days of turmoil, but stocks in Asia fell sharply.
Who will lead Iran once the war is over? “Most of the people we had in mind are dead,” says President Trump.
Energy prices continued to rise on Tuesday as attacks by the United States and Israel on Iran intensified, along with the country’s response.
Higher fuel prices and lower demand for international flights are expected to eat into airlines’ profits.
How long prices remain high will depend on what the United States, Israel and Iran do next.
The cartel pledged to increase output by 206,000 barrels a day from next month, and said that members would “closely monitor and assess market conditions.”