Ibex 35 Falls Amid Global Market Uncertainty
The Madrid Stock Exchange's Ibex 35 fell on Thursday, opening at 19,521.9 units after dropping to 0.56%. However, it managed to recover and rose above 19,600 points.
The global market is watching the conflict in the Middle East, which has an impact on crude oil prices. In this context, the US is considering a plan to ban diesel exports for 90 days to reduce energy costs before the midterm elections in November.
Fuel producers have opposed the ban, warning that short-term benefits would be offset by subsequent increases in fuel prices. Tensions persist in the Strait of Hormuz, where obstacles to ship movement continue.
The Brent crude oil barrel rose 0.5% at opening, reaching $103.6 per barrel, while West Texas Intermediate increased by 0.6%, to $92.7 per barrel.