European Markets Make Small Moves
European markets opened cautiously on Monday as traders assessed the impact of escalating conflict between Israel and Lebanon. The FTSE 100 (^FTSE) in London slipped 0.1% in early trading, while Germany’s DAX (^GDAXI) edged down 0.2%, and the CAC 40 (^FCHI) in Paris dropped 0.5%.
Hezbollah Leaders Targeted
The recent surge in violence saw Hezbollah leader Hassan Nasrallah killed in an Israeli airstrike on Friday. The attack also claimed the lives of 20 other prominent figures within the organization. According to Iranian state media, Abbas Nilforoushan, a senior general in Iran’s Revolutionary Guards Corps, was among those killed in a separate airstrike. Other Hezbollah members have also been targeted in recent days.
The death toll in Lebanon over the past two weeks has surpassed 1,000, further escalating tensions in the region.
Oil Prices React to Conflict
The intensifying conflict has triggered volatility in oil markets. Brent Crude (BZ=F) saw a 0.7% rise in early trading, settling around $72 per barrel. Meanwhile, U.S. crude oil (CL=F) also climbed, gaining 0.5% to reach $62.50 per barrel.
As the situation in the Middle East unfolds, traders remain on alert for further developments and their potential impact on global markets and energy prices.
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