Markets Rattle After U.S. Strikes on Iran Nuclear Sites
(MENAFN) Global financial markets opened the week on a mixed note amid escalating tensions between Iran and Israel, following the US airstrikes on Iranian nuclear facilities early Saturday. The attacks have intensified worries about a potential broader conflict in the region.
Investors remain focused on the ongoing Iran-Israel hostilities, especially after the US targeted three key nuclear sites over the weekend: Fordo, Natanz, and Isfahan.
US President Donald Trump announced Saturday that American forces had carried out "very successful" strikes on these Iranian nuclear locations, fueling concerns about the possibility of a large-scale regional war.
However, US Vice President JD Vance emphasized in a statement following the bombings that Washington aims for a diplomatic resolution rather than prolonged confrontation with Tehran.
Meanwhile, anxiety over the strategic Strait of Hormuz has surged again. This critical waterway facilitates the transport of Middle Eastern oil and liquefied natural gas (LNG) to global markets via the Sea of Oman and the Indian Ocean.
About one-third of the world's seaborne crude oil passes through the Strait of Hormuz, along with 20% of global LNG shipments. Asian nations are particularly significant consumers of energy flowing through this channel.
Iranian officials’ comments on this matter are under intense scrutiny. Esmaeil Kowsari, a member of the Iranian parliament’s National Security Commission, revealed that while the Supreme National Security Council holds ultimate authority, the parliament has resolved that the Strait of Hormuz should be closed.
In response to the Middle East developments, US stock futures declined as the new week began.
Energy market jitters continue to influence prices, with Brent crude oil climbing 1.2% to $76.85 per barrel at 0605 GMT. West Texas Intermediate (WTI) crude also rose 1.54%, opening at $75 per barrel.
Conversely, gold prices fell by 0.3%, currently trading at $3,358 an ounce, losing earlier gains as US officials’ messages about seeking diplomatic solutions eased some market fears.
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