Rising oil prices and a tense lull in Middle East stock markets, October 2

Tensions caused by increased attacks in the Middle East, Israel’s invasion of Lebanon and Iran’s missile attack on Israel have plunged global markets into uncertainty.

On the one side, oil price began to rise. Brent, the European benchmark, rose more than 3% on Wednesday morning, with the price per barrel exceeding $75.50.

At the same time, the US benchmark West Texas Intermediate stood at around $72 after rising 3.1%.

In addition to what’s happening in the Middle East, oil markets are also looking ahead to OPEC’s meeting this Wednesday to analyze whether to launch production increases starting in December.

Meanwhile, European stock markets opened the day with a tense, calm and smooth move.

The Ibex 35 index fell 0.5%. in the afternoon, amounting to 11,614.5 points. The fall is more gradual than the day before, when it fell by 1.72%, losing the level of 11,700 points.

Stock markets in Germany, Italy and Portugal followed a similar path to Madrid, with the UK up 0.02%.

The Tokyo stock market, in turn, ended Wednesday’s session with a fall of 2.18%. Wall Street also closed with losses on Tuesday (-0.41% on the Dow Jones index).

Chinese stock markets are closed this week as the country celebrates National Day.