Commodities
Ibex 35 Holds Steady as Oil Prices Rise Amid Escalating Tensions
The Madrid Stock Exchange's Ibex 35 index started Wednesday at 19,939 points, only a 0.02% increase from Tuesday's close of 19,934 units.
Investors are closely watching the developments in the Middle East as tensions escalate and the risk of disrupted oil supplies increases, causing crude oil prices to rise again.
The barrel of Brent oil, a reference for Europe, rose by 0.8% to $91.7 per barrel, while West Texas Intermediate (WTI), a benchmark in the United States, also increased by 0.8% to $85.6 per barrel.
The six-month conflict has seen no resolution since the 60-day agreement between the US and Iran expired last Monday, with Washington attempting to increase pressure on Tehran to reopen the Strait of Hormuz and resume talks.