Tehran and European stocks opened on Tuesday, with the launch of the fifth consecutive Israeli war with Iran, deepening investors’ uncertainty and spurring a transition to safer assets.
By the 0710 GMT, the Pan-European Stoxx 600 index had dropped by 0.8% to score 542.38 points, reversing Monday’s short rebound following a loss of five straight sessions.
The conflict has stimulated the global commodity market, particularly oil. The gross price was initially etched high after tensions rose, but later pulled back. Despite the overall decline in European stocks overall, energy stocks rose 0.3%, surpassing the broader indicators, with investors aside from potential supply disruptions.
Gas prices have increased the price of natural gas in Europe as traders withstand potential escalations in the war and the risks of global energy supply.
According to Bloomberg, benchmark futures rose 1.8% after choppy trading in the previous session.