Oil prices surge, Europe’s markets open lower on Israel Iran strikes

Published connected 13/06/2025 - 7:57 GMT+2•Updated 10:24

European indexes took a deed connected Friday, pursuing a dip successful Asian markets, connected news that Israel had attacked Iran's capital. The strikes came amid nan ramping up of tensions complete Tehran’s quickly advancing atomic program.

Oil prices, connected nan different hand, soared — linked to concerns that nan conflict could restrict supply.

US benchmark crude lipid had risen 5.3% to astir $71.7 per tube arsenic of 9.30 CEST. Brent crude, nan world standard, accrued by 5.15% to $72.93 per barrel.

In stock trading, nan EURO STOXX 50 fell 1.37% to 5.287,11, while nan broader STOXX 600 fell 0.95% 544,64.

Germany's DAX dropped 1.3% to 23.463,56 and Italy's FTSE MIB slipped 1.53% to 39,315.48. Spain's IBEX 35 fell 1.56% to 13,869.00 and France's CAC 40 dropped 1.03% to 7,682.33.

In Asia, Tokyo's Nikkei 225 fell 0.89% to 37,834.25 astatine close, while nan Kospi successful Seoul edged 0.87% little to 2,894.62.

Hong Kong's Hang Seng retreated 0.91% to 23.817,36 and nan Shanghai Composite Index mislaid 0.75% to 3,377.00.

Australia's S&P/ASX 200 drifted 0.21% little to 8.547,40.

An Israeli onslaught connected Iran is successful "our apical 10 of world risks”, but “Asian markets are expected to retrieve quickly arsenic they person comparatively constricted vulnerability to nan conflict and increasing ties to unaffected Saudi Arabia and nan UAE”, said Xu Tiachen of The Economist Intelligence.

Following nan strikes connected Iran, S&P 500 futures dropped 1.38%, Nasdaq 100 futures fell 1.46%% and Dow Jones Industrial Average futures fell 1.29% by astir 3.45am ET.

On Thursday, US banal indexes had ticked higher pursuing different encouraging update connected ostentation crossed nan country.

The S&P 500 roseate 0.4% to 6,045.26. The Dow Jones Industrial Average added 0.2% to 42,967.62, and nan Nasdaq Composite gained 0.2% to 19,662.48.

Oracle pushed upward connected nan marketplace aft jumping 13.3%. The tech elephantine delivered stronger profit and gross for nan latest 4th than analysts expected, and CEO Safra Catz said it expects gross maturation “will beryllium dramatically higher” successful its upcoming fiscal year.

That helped offset a 4.8% nonaccomplishment for Boeing aft Air India said a London-bound formation collapsed soon aft taking disconnected from Ahmedabad airdrome connected Thursday pinch 242 passengers and unit onboard. The Boeing 787 Dreamliner collapsed into a residential area adjacent nan airdrome 5 minutes aft taking off.

Stocks broadly sewage immoderate thief from easing Treasury yields successful nan enslaved marketplace pursuing nan latest update connected inflation. Thursday’s update said ostentation astatine nan wholesale level wasn’t arsenic bad past period arsenic economists expected.

Wall Street took it arsenic a awesome that nan Federal Reserve will person much leeway to trim liking rates later this twelvemonth successful bid to springiness nan system a boost.

The Fed’s adjacent gathering connected liking rates is scheduled for adjacent week, but nan astir unanimous anticipation connected Wall Street is that officials won’t cut.