Oil prices have rallied and equities mostly dropped as traders assessed the latest developments affecting global markets as a result of the war, AFP reports.
Crude futures fluctuated between gains of around two and six per cent as the release of oil reserves by some countries helped to offset news of attacks on commercial ships in the Gulf.
“Oil prices remain volatile and risk sentiment fragile and trading is on the headlines and rapidly evolving conflict in the Middle East,” noted Neil Wilson, Saxo UK investor strategist.
Europe’s leading stock markets retreated close to one per cent nearing the half-way stage, after Asian indices mostly closed lower.
