Oil prices rose on Wednesday when hostilities in the Middle East flared as Iranian drones struck Kuwait’s main international airport and the United States and Iran exchanged strikes.
Stocks wavered, rising across much of Asia but declining in Europe and the United States. The moves extended days of volatile trading in response to the ebb and flow of peace negotiations between Iran, the United States and Israel.
Energy markets have been on a hair trigger with the war in Iran dragging into a third month. Both the United States and Iran have continued to trade attacks while saying that a cease-fire is holding. The countries say that negotiations over a framework to settle the conflict are continuing.
