Middle East Tensions Fuel Oil Price Hike, Stocks Decline
Oil prices surged by 2% on Tuesday as tensions in the Middle East escalated, prompting investors to seek safe-haven assets.
The increase in oil prices came as violence flared up in Iran after a month of relative calm, sparking uncertainty over the conflict's future.
Meanwhile, shares in online fast-fashion retailer Shein fell by as much as 10% after they began trading in Hong Kong, closing 4% lower.