Oil and gold prices rise after Israel’s attack on Iran- Diepresse.com
Israel’s attacks on Iran also add the financial markets. Especially the oil price.
Israel started with air strikes against Iran on Friday night. The capital markets did not leave this untouched: « The key is now whether this remains limited – the story shows that the markets often cushion the shock when the escalation is limited, » says Billy Leung, investment strategist at Global X ETFS.
The European stock markets fell over one percent in early retail. Shortly after the start of trade, the DAX was around 1.4 percent in the minus, the home atx almost one percent. For the broad EuroStoxx 50, it was 1.45 percent downhill.
Oil jumps up
The oil price reacted much more violently. A barrel of the North Sea variety Brent increased by around 3.8 percent, during the night the price had increased by 13 percent in the meantime. A barrel now costs around $ 73. Oil of the US variety WTI also noticeably climbed up. The winnings by Friday morning were the biggest daily winnings for both contracts since 2022 when Russia marched to Ukraine and cut the oil prices up.
Several oil dealers in Singapore said to Reuters that it was still too early to say whether the attack would have an impact on the oil deliveries from the Middle East, as this depends on how the Iran strike and whether the United States would intervene. « In the worst case, the conflict could expand to other important oil and gas producers in the region as well as to shipping, » said Analyst Amarpreet Singh from Barclays in a message.
Gold, a traditionally safe port in times of crisis, also increased. The price increased by 1.1 percent to around $ 3421. « We are currently watching classic risk aversion, » said Matthew Haupt, portfolio manager at Wilson Asset Management.
German federal bonds were also in demand. The return fell to 2.44 percent and thus the lowest level since March, the courses of the bonds climbed up.
