European stock markets started today’s session lower, with investors looking to developments in the Middle East and new escalation of tensions between the US and Iran.
Around 10:05 a.m. GMT, Paris was down 1.08 percent, Frankfurt 1.28 percent, Milan 1.27 percent and London 0.39 percent.
Prices of oil, at the start of trading in Asia, were up, with that of barrel WTI jumping, up more than 7%.
As of 02:30 (GMT), the price of a barrel of West Texas Intermediate (WTI), the US benchmark variety, was up 7.67% at $90.28, while that of North Sea Brent, the international benchmark variety, was up 6.76% at $96.49.
Earlier in the week, prices had retreated to their lowest levels since early March, after Tehran’s tentative announcement of an opening of the Straits.
