Global oil and gold prices have jumped, while shares have slumped after reports of explosions near the Isfahan airport emerged just minutes after a US official told the Australian broadcaster ABC that Israel had fired missiles on one Iran site.
Brent crude oil prices surged by over three per cent to approximately $90 per barrel during April 19 morning’s trading session in Asia, while the price of gold remained near a new all-time high, surpassing $2,400 per ounce. Following the development in Iran, key stock indices in Japan, Hong Kong, and South Korea experienced declines, according to .
Crude oil prices have surged since the beginning of the year, primarily due to escalating tensions in the Middle East and ongoing supply cuts by OPEC+. Given that the region contributes approximately one-third of the world’s crude oil output, developments there heavily influence global energy markets. The sustained increase in energy prices could elevate risks for the global economy and present a significant challenge for central bankers worldwide.
Source: caliber.az
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