Ibex 35 Falls as Brent Crude Oil Approaches $104

The Ibex 35 stock market index in Madrid started Thursday's session down 0.56%, below the 19,600 point level at 19,521.9 units.

However, after a brief drop, the selective moderated the decline to 0.06% and rebounded above the threshold at 19,621 points.

The focus of investors will remain on the evolving conflict in the Middle East, which is affecting crude oil prices and tensions between major players such as the US and China.

Despite opposition from US fuel producers, who fear a short-term ban on diesel exports could lead to increased fuel prices, the White House is finalizing a plan to impose a 90-day ban.