Oil Set for Weekly Drop as Risk-Off Tone Offsets Mideast Risks
Oil jumped after US officials said Israel struck targets in Iran, with Brent rallying on concerns over the potential for a wider regional conflict that could endanger crude supplies.
Oil jumped after US officials said Israel struck targets in Iran, with Brent rallying on concerns over the potential for a wider regional conflict that could endanger crude supplies.
Iran shut airspace over the west of the country and its capital after Israel launched a missile strike, forcing commercial flights to reroute for the second time in less than a week as regional tensions escalate.
A senior Barclays Plc investment banker said investors are rapidly moving away from risk assets due to concerns about an escalation in the Middle East conflict.
Steep hikes in wealth and dividend taxes by Norway’s left-leaning government have prompted dozens of the Nordic nation’s rich to move to another prosperous, mountainous country to the south.
Malaysia’s economy quickened by the most in a year, signaling that firmer recovery is underway in the Southeast Asian nation.
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