The Brent barrel is up almost 3% and has crossed $75 ahead of the OPEC meeting. European markets opened on tense, calm and smooth moves, while Tokyo closed with a decline of 2.18%.
The tension caused by increased attacks in the Middle East, with Israel’s invasion of Lebanon and Iran’s missile attack on Israel, has plunged global markets into uncertainty.
On the one hand, the oil price has started to rise. Brent, the benchmark in Europe, rose more than 3% in value on Wednesday morning and the price per barrel is above $75.50.
At the same time, West Texas Intermediate, the US benchmark, was at around $72, after rising 3.1%.
In addition to what is happening in the Middle East, oil markets are also waiting for the meeting that OPEC will hold this Wednesday to analyze whether there should be a production increase from December.
Meanwhile, European stock markets opened the day with tense, calm and smooth moves.
The Capricorn 35 fell 0.5% in the early afternoon, with a score of 11,614.5 points. The decline is softer than the day before, when it fell 1.72% and lost the 11,700 point level.
The stock markets of Germany, Italy and Portugal followed the same path as Madrid, while the United Kingdom rose 0.02%.
The Tokyo stock market ended the session Wednesday down 2.18%. Wall Street also closed with losses on Tuesday (-0.41% for the Dow Jones).
Chinese stock markets are not active this week as the country celebrates National Day.
Source: EITB
I’m Wayne Wickman, a professional journalist and author for Today Times Live. My specialty is covering global news and current events, offering readers a unique perspective on the world’s most pressing issues. I’m passionate about storytelling and helping people stay informed on the goings-on of our planet.
