Brent approaches $75.. Investors “sell everything” and buy dollar bonds
Brent approaches $75.. Investors “sell everything” and buy dollar bonds
2024-10-02 | 02:03
Alsumaria News – Economy
The stock exchanges witnessed Global Especially in Stock Exchange Wall Street: Heavy selling of Asian stocks caused their prices to fall, as investors turned to buying safer dollar bonds, causing it to rise by 0.5%, against the backdrop of the sudden Iranian attack on the entity, while oil prices rose to nearly $75 Brent.
Most Asian stock markets fell as investors flocked to safer assets, with the safe-haven dollar trading near a three-week high against the euro.
Brent crude futures rose 1.5% to $74.66 a barrel, extending gains of 2.5% since Tuesday, while U.S. West Texas Intermediate crude futures rose 1.7% to $71 a barrel, after rising 2.4% on Tuesday.
“Speculation of an Israeli strike on Iranian oil fields seems unlikely, as such a move would likely push oil prices towards $80, which would upset Israel’s allies, who are making strides against inflation,” said Tony Sycamore, an analyst at IG.
“Instead, strategic Israeli strikes on vital weapons plants and military targets are more likely.”
alsumaria.tv
