Oil soars to three-year high on growing Middle East tensions – business live

Global stocks on edge as Donald Trump says ‘missiles will be coming’ in Syria; Theresa May says chemical attack ‘cannot go unchallenged’

And we’re off. Germany’s Dax, Spain’s Ibex and the FTSE 100 index in London are flat while France’s CAC has edged up 0.1%.

Good morning, and welcome to our rolling coverage of the world economy, the financial markets, the eurozone and business.

Oil prices soared to their highest levels since December 2014, above $73 a barrel last night. Brent crude futures are at $72.30, still the highest in more than three years.

Russia vows to shoot down any and all missiles fired at Syria. Get ready Russia, because they will be coming, nice and new and “smart!” You shouldn’t be partners with a Gas Killing Animal who kills his people and enjoys it!

Last year Russia and Syria did not shoot back against US missiles. But this time the scale of possible attacks by the US and possibly its allies seems larger if Russia fires back, the war front will be bigger.

I don’t think we are heading into World War III but should there be a direct collision between the US and Russia for the first time, that’s the sort of headline that would plunge stock prices.

With nerves already frayed sentiment wasn’t helped by reports that Saudi Arabian defence systems had intercepted a number of missiles fired from Yemen, over the skies of Riyadh, which in turn saw oil prices hit their highest levels since December 2014 above $73.

Continue reading…

Leave a Reply

Read the original at Economics | The Guardian.