Travel Amateur / Flickr
European stock markets opened this Monday with losses of more than 2% due to the escalation of the war. Rising oil prices are a “small price to pay for peace and security”, says Donald Trump.
As The main European stock exchanges opened sharply lower this Mondaywith losses of more than 2%, driven by the rise in oil prices to more than US$100 per barrel, due to the escalation of the war in the Middle East.
At around 8:25 am in Lisbon, the EuroStoxx 600 fell 2.40%, to 584.34 points.
The London, Paris and Frankfurt stock exchanges fell 1.66%, 2.40% and 2.67%, respectively, while those in Madrid and Milan fell 2.88% and 2.66%.
In the same sense, the Lisbon stock exchange declined, but more moderately, with the main index, the PSI, falling 1.39%, to 8,824.03 points.
O oilwhich has been conditioning the markets since the day the war began in the Middle East between the USA and Israel and Iran, rose today 15% and 47% since February 27th.
The benchmark crude oil in Europe, for delivery in May, rose 15% to $106.86, against $92.69 on Friday and more than 47% than on February 27, before the start of the conflict in the Middle East ($72.87).
US benchmark West Texas Intermediate (WIT) crude for April delivery rises 14% to $107.67.
However, the precious metals depreciate moderately.
O gold ounce pricehistorically considered a safe haven asset in times of uncertainty, I was retreatingwith an ounce trading at US$5,105.07 after finishing at a new all-time high of US$5,417.21 on January 28.
An ounce of silver was also depreciating to $83.5769 after rising to an all-time high of $116.6974 on January 28.
Wall Street ended in red on Friday, with the main indicator, the Dow Jones, falling 0.94% and the technological Nasdaq falling 1.59%.
In the debt market, interest rates on Germany’s 10-year bond rose to 2.889%, up from 2.858% on Friday.
O euro fell to 1.1548 dollars on the Frankfurt foreign exchange marketagainst $1.1618 on Friday and $1.1980 on January 27, a new high since June 2021.
The “price of peace”, says Trump
The rise of oil “It’s a small price to pay for the peace and security of the United States and the world”said the North American President, after the West Texas Intermediate (WTI) barrel surpassed 100 dollars.
“Only fools think otherwise,” wrote Donald Trumpin a message published on the Truth Social social network, ensuring that Oil price “will fall rapidly when destruction of the Iranian nuclear threat is complete”.
The barrel of West Texas Intermediate (WTI) oil, a reference in the United States, This Sunday it surpassed 100 dollars, for the first time since July 2022.
Brent, the oil that serves as a reference for the Portuguese market, also rose to 101.9 dollars, an increase of 9.2% compared to the price at the end of Friday, of 92.69 dollars.
The rise in energy prices reflects the worsening of the situation in the Middle East following the attack by Israel and the United States on Iran, on February 28, and the closure of the Strait of Hormuz.
Around 20% of global oil production and almost 20% of liquefied natural gas (LNG) passes through the Strait of Hormuz.
