Global Markets Mixed as Oil Prices Plummet Amid Tensions with Iran

Global markets were mixed on Friday after Wall Street suffered losses, while oil prices fell to $104 per barrel. The Brent crude price dropped by 3.3% to $104.09 per barrel, with benchmark US crude down 2.8% at $99.63.

The decline in oil prices comes as tensions between the US and Iran intensified, although ING commodities strategists Warren Patterson and Ewa Manthey noted that oil flowing through the Strait of Hormuz remains 'well below pre-war levels.'

In early European trading, Britain's FTSE 100 rose 0.5% to 10,656.44, while Germany's DAX gained 0.6% to 25,514.37.