#1
#1 out of 1
business6h ago
Oil on track for record monthly surge as Iran war disrupts markets
- Brent crude surged about 51% in March, on track for the biggest monthly gain on record.
- Oil traded as high as $119.50 a barrel in March amid Hormuz-related disruptions.
- US crude rose while global supply was trimmed by the Middle East conflict.
- Gold fell for the fifth-largest monthly decline in 50 years as a safe-haven hedge faltered.
- Stock indices, including Wall Street, fell as investors assessed ongoing supply risks.
- British equities also slumped, with the FTSE 100 ending the month below 10,000 points.
- European governments faced tighter fiscal conditions as demand adjusted to higher borrowing costs.
- Analysts noted supply risks remained the dominant driver for market pricing.
- Oil remained the top-performing asset in a volatile month for markets.
- Turkish central bank sold bullion, weighing on gold reserves.
Vote 0