Crude prices rose in early Asian trading on Monday, but European markets began neutral after Israeli military advanced farther into Lebanon over the weekend, fueling investor concerns that the broader Middle East conflict could intensify rather than progress toward a peace settlement.
At the time of writing, US West Texas Intermediate (WTI) crude was up 2.88% to $89.88 per barrel, while Brent crude was up 2.43% to $93.33. European markets were mixed, with France’s CAC 40 rising 0.06% to 8,186.38 points and Germany’s DAX up 0.11% to 25,134.78. London’s FTSE 100 index lost 0.25% to 10,380.53.
The uneven markets reflect the ongoing uncertainty, with the Israeli advance occurring despite a formal ceasefire in place since April 17 and only days before the next round of direct talks between Lebanon and Israel, which is slated at the State Department on June 2 and 3.
Australia’s S&P/ASX 200 dipped 0.21%, while Hong Kong’s Hang Seng Index rose 0.73%. Mainland China’s CSI 300 fell 0.32%. SoftBank Group’s Tokyo-listed shares rose 5% after the Japanese corporation announced intentions to invest €45 billion over five years to develop artificial intelligence infrastructure in France.
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