Stocks fall, oil rallies
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British equities opened lower on Tuesday with the ongoing hostilities between Iran and Israel weighing on market sentiment, and causing an investor shift to safe-haven assets.
As tensions escalate between Israel and Iran, North Texas energy experts are closely monitoring the impact on global oil markets — and warning that rising prices at the pump may not be far behind.
DRIVERS must be spared a fuel duty hike as tensions in the Middle East push up global oil prices, MPs have warned. New figures show petrol prices rose to 132.1p a litre yesterday,
Worries over potential disruptions stemming from the Israel-Iran conflict are impacting the oil shipping industry.
Wall Street indexes shed more than 1% on Friday as oil prices surged 7% after Israel and Iran traded air strikes, feeding investor worries that the combat could widely disrupt oil exports from the Middle East.
Oil prices edged higher in early trade, adding to last week’s surge as Israel and Iran exchanged strikes for a fourth day.