Stocks rise, oil climbs after US-Iran clashes

AFP | Manama

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Global stock markets mostly advanced on Monday, while oil prices edged higher following renewed exchanges of fire between the United States and Iran over the weekend. The latest tensions highlighted the fragile nature of the tentative agreement aimed at ending hostilities between the two countries.

Although Washington and Tehran signaled their intention to continue diplomatic talks, disruptions to shipping through the strategic Strait of Hormuz raised concerns among investors. Oil prices posted modest gains after falling to pre-war levels last week, as markets assessed the impact of the conflict on global energy supplies.

Wall Street opened higher, led by gains in technology stocks, while major Asian markets closed in positive territory. European markets showed mixed performance.

Investor sentiment remained cautious amid ongoing concerns about high valuations in the technology sector and uncertainty surrounding artificial intelligence investments. Attention is also turning to upcoming US employment data and central bank discussions, which could influence future monetary policy decisions.