"Brent crude prices jumped by as much as 8% on Thursday to $109.74 a barrel, reversing Wednesday's drop when hopes of a de-escalation in the Iran war pushed the international benchmark below the $100-a-barrel mark at one point."
"Stocks in Asia suffered, with Japan's Nikkei index falling 2.4%, while China's CSI 300 index dropped 1.36%. South Korea's Kospi tumbled by 4.8%."
"Government borrowing costs were also on the rise, with the yield on 10-year UK gilts rising four basis points to 4.886%, reflecting increased fears of an inflation increase from higher energy costs."
Oil prices increased significantly following Donald Trump's threats against Iran, with Brent crude rising to $109.74 a barrel. The US West Texas Intermediate crude also saw an 11% increase. Despite a slight easing later, the market reacted negatively, with major Asian stock indices declining. European markets showed mixed results, while US stocks experienced minor losses. Government borrowing costs rose, reflecting inflation fears linked to higher energy prices. Analysts noted investor concerns over potential delays in oil supply deliveries from the Gulf region.
Read at www.theguardian.com
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