Stock market today: Oil climbs, Asian markets steady as investors assess fresh Middle East tensions
Global markets opened Wednesday on a cautious note as renewed geopolitical tensions in the Middle East pushed oil prices higher, while Asian equities showed resilience after an initial volatility. The MSCI Asia Pacific Index was little changed after briefly falling nearly 1% at the open, while US equity futures pointed to a stable start, with S&P 500 futures edging up 0.1% and Nasdaq 100 futures gaining 0.3%. Investors are now watching whether the rise in oil prices translates into broader risk aversion across global financial markets.
Brent crude climbed 2.3% to trade near $76 a barrel after the United States launched fresh airstrikes in Iran and revoked a waiver that had allowed Tehran to sell oil globally following attacks on commercial vessels in the Strait of Hormuz. The developments reignited concerns over potential disruptions to global energy supplies and their impact on inflation. Despite the spike in crude prices, the broader market reaction remained measured.