Commodities
UN Clash Sends Oil Prices Soaring, Stock Markets Tumbling
The clash at the UN General Assembly has sent shockwaves through global markets. Crude oil prices have soared, exceeding $100 a barrel for Brent futures and hovering around $92 for WTI futures.
The conflict between the US and Iran has fueled tensions, with President Trump stating that US officials met with their Iranian counterparts for three hours on the sidelines of the UN General Assembly. He described the meeting as 'very positive', but also hinted at the possibility of military action against Tehran.
Oil prices have been a major focus of attention, with central banks closely monitoring their impact. The resumption of operations on Saudi Aramco's East-West pipeline has provided some relief, but tensions remain high.