Oil prices climbed on Tuesday as investor sentiment was shaken by U.S. military actions in Iran, despite hopes of an imminent U.S.-Iran peace deal. The Brent futures rose over 2% in Asian markets, reaching $98.21 a barrel, amidst fears of prolonged instability in the Middle East.
The U.S. conducted strikes in southern Iran as defensive measures, while Tehran engaged in talks with Qatar on resolving the ongoing conflict. However, statements from U.S. officials, including Secretary of State Marco Rubio, dampened expectations of a swift resolution.
Market reactions were mixed, with energy concerns influencing global financial trends. Stock indices across different regions showed varying degrees of change, reflecting the complex economic climate shaped by geopolitical tensions and trade uncertainties.
(With inputs from agencies.)
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