Oil Prices Rise Amid Escalating US-Iran Tensions
Oil prices rose on Thursday after falling earlier in the day following a series of attacks between the US and Iran. The volatility in crude oil prices continues as tensions escalate.
In Asia, shares were mostly lower, with South Korea's Kospi extending its losses after dropping more than 16% over the past two days, led by AI-related stocks. Analysts see this as a reflection of broader doubts about massive investments by tech giants in expanding AI capacity.
The US Federal Reserve kept interest rates steady on Wednesday, disappointing some market participants who had expected an increase. The Fed's chairman reiterated his commitment to getting inflation back to 2%, but provided fewer clues about future rate decisions, leading to more uncertainty and potential volatility in financial markets.