There are growing concerns of a new escalation in the Middle East, as Iranian state television reported that the possibility of a collapse of the ceasefire between Iran and the United States is particularly high if military operations in Lebanon continue.
At the same time, Tehran announced the suspension of the exchange of messages and negotiations with Washington, attributing the decision to the Israeli attacks that continue on Lebanese soil.
The development has caused a strong stir in international markets. European stock markets were down, with the Euro Stoxx 50 index down 0.64%.
The key European markets also posted losses:
- Paris: -0.79%
- Frankfurt: -0.80%
- Milan: -0.81%
- London: -0.87%
At the same time, oil prices soared on fears of further destabilization in the region and potential impact on global energy supplies.
Brent oil gained 6.60% to $97.13 a barrel, while US West Texas Intermediate rose 7.62% to $94.02 a barrel.
The markets are now watching developments closely, as any further deterioration in relations between Iran and the US could have a significant impact on both energy markets and the international economy.
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