Oil prices rise as market relief rally loses steam
Global stocks fluctuated and oil prices rose on Tuesday as Middle East tensions persisted. Investors remained cautious with the Strait of Hormuz still closed.
Global financial markets remained on edge on Tuesday as a fragile relief rally lost momentum. Based in Singapore, investors monitored the situation closely as oil prices rebounded amid ongoing tensions between the United States and Iran. Although President Donald Trump postponed a planned strike on the Iranian power grid, the gesture failed to provide lasting stability to a market concerned about the broader implications of conflict in the Middle East.
In Asia, equities initially saw a catch-up rally following gains in global counterparts. Japan's Nikkei 225 advanced 0.8%, while the Hang Seng Index in Hong Kong added 1.4%.
