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Stocks Surge Amid Middle East Tension, Oil Prices Soar
Description
Global markets surged Monday, buoyed by earnings reports and economic data, despite Middle East tensions escalating. The Japanese yen initially plummeted before recovering, as traders anticipated potential intervention from Tokyo. Irans military warned US forces about the Strait of Hormuz, following President Trumps announcement of military support in the region. This geopolitical unrest sent oil prices soaring, with Brent crude futures jumping over $2.50 to $110.73 per barrel. US crude also rose more than 2%, while a bulk carrier reported small boat attacks off Irans coast. Markets remain volatile, with Asia leading gains, Europe flat, and gold dipping slightly as the situation unfolds.
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