Shares advance, oil prices settle sharply lower as markets shrug off Iran conflict

By chibuke oguh

New York (Reuters) -Global stock markets advanced on Monday while oil prices settled sharply after reaching their highest levels in several months, as markets ignored the effects of the escalating conflict in the Middle East, as Iran shot Iran on the revenge air against the United States in Qatar.

The main Wall Street Index has ended up, with 10 of 11 of the S&P 500 subcors standard. Energy stocks were the biggest losers in the session.

The stocks were reduced by the gains in the aftermath of the news on Monday that the Qatari government had closed the airspace because it prepared for an Iranian air strike against the American forces stationed in the country.

The Iranian army said it had carried out a missile attack on the US Air Force in Qatar. But US officials said that no American individuals had been killed or injured in the attack on the air base, the largest American military composition in the Middle East. Iran’s attacks were against the US air strikes against Persian nuclear sites to support an Israeli military campaign.

The Dow Jones industrial average increased by 0.89 % to 42,581.78, the S&P 500 index increased by 0.96 % to 6,025.17 and the NASDAQ boat increased by 0.94 % to 19,630.98.

European stocks ended 0.28 %. The largest MSCI of Asia Pacific shares outside Japan decreased by 0.70 % overnight. The MSCI scale of stocks all over the world increased by 0.49 %.

Israel bombed Evin prison in northern Tehran on Monday, which is a strong symbol of the Iranian regime, and the Revolutionary Guard leadership centers responsible for internal security in the Tehran region. The Iranian parliament agreed to close the Strait of Hormuz, a major shipping lane in the global oil trade.

Andrew Wales, chief investment employee in Sanjak Alpha in Houston, said: “The market indicates high feelings of risks, which is somewhat surprising, given that we have a series of very volatile events during the weekend with the United States participating in bombing efforts (Iran) with Israel,” said Andrew Wales, Sanjak Alpha’s chief investment employee in Houston.

Wales said: “The lesson we take from this is that these main events have a lower and less impact on the market since the continued definitions – the so -called liberation day – which was the great volatile event.”

Brent crude futures closed by 7.2 % at $ 71.48 a barrel, while US crude in West Texas fell by 7.2 % to $ 68.51. The Brent and WTI raw standards touched its highest level for five months, worth $ 81.40 and $ 78.40, respectively.

A major regional source told Reuters that Iran’s attacks were seen as an effort to escalate, as the United States has informed the diplomatic channels before the attacks on its base in Qatar.