Stocks fall and oil rises as central banks hold rates
Global stocks fell on Thursday as Middle East conflict pushed oil prices higher. Central banks kept rates steady while monitoring rising inflation risks.
Global equity markets experienced a significant downturn on Thursday as geopolitical tensions escalated between the United States and Israel against Iran. This conflict triggered a sharp increase in energy prices, complicating the landscape for major central banks that opted to maintain current interest rates while monitoring inflationary pressures.
Attacks targeting the South Pars gas field in Iran, as well as major facilities in Qatar, Saudi Arabia, and Kuwait, pushed Brent Crude Oil prices above $119 per barrel. U.S. crude rose 1.82% to $98.07, while Brent settled up 4.5% at $112.21 after its earlier spike.
