Oil Prices Rise Amid Mixed Trends in Global Markets

Oil prices increased following the renewed clashes between the US and Iran. While Brent crude approached $97 a barrel, global stock markets exhibited a mixed performance and Wall Street closed with gains.

Rise in Oil Prices

Renewed clashes between the US and Iran caused oil prices to increase sharply. The price of a barrel of Brent crude rose by 1.7 percent to reach $97.25.

US crude also traded 1.9 percent higher at $92.71. US President Donald Trump stated in remarks on Wednesday that he does not expect the bombing campaign to last very long.

Status of European and Asian Stock Exchanges

During early trading on European stock exchanges, the UK's FTSE 100 index gained 0.1 percent, while Germany's DAX index declined by 0.2 percent and France's CAC 40 index fell by 0.4 percent.

In Asian markets, Tokyo's Nikkei 225 dropped 0.2 percent, while South Korea's Kospi index rose 0.3 percent. Hong Kong's Hang Seng saw a 0.4 percent decline, and the Shanghai Composite recorded an increase of less than 0.1 percent.

Wall Street and Artificial Intelligence Demand

The regional progress followed gains on Wall Street. On Wednesday, the S&P 500 index gained 0.5 percent, the Dow Jones Industrial Average rose 0.6 percent, and the Nasdaq composite index increased by 0.5 percent.

Investors welcomed positive signals regarding artificial intelligence demand from companies Dell and Palo Alto Networks. Following strong quarterly profits, Dell Technologies shares surged by 15.8 percent.

Bond Markets and Foreign Exchange

In the bond market, the yield on the 10-year US Treasury note fell from above 4.81 percent to approximately 4.78 percent due to inflation concerns, energy shocks stemming from the Iran war, and rising US government debt.

The Japanese yen strengthened sharply against the US dollar, trading at 156.40 yen.