Iran, Israel and oil prices
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Oil opened higher but quickly gave back some gains. Market reactions were surprisingly muted at the start of the week despite developments in the Iran-Israel hostilities over the weekend.
As tensions escalate between Israel and Iran, Americans may soon feel the impact at the gas pump. According to analysts, the rising conflict is sending oil prices soaring, and that could lead to a spike of more than 30 cents per gallon in U.
The FTSE 100 hit a new closing record after investors continued to look for opportunities outside the US, despite the UK economy shrinking by more than expected in April. The index of the UK’s leading shares rose 0.23% to close at 8,884 on Thursday, topping a previous high of 8,871.31 on March 3.
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Hostilities between Israel and Iran rumbled into a fourth day with little sign of an end to the fighting. Iran fired several waves of drones and missiles over the last 24 hours, while Israel continued hitting the Islamic Republic’s capital,