Oil Prices Surge Nearly 4% Amid New US Attacks on Iran

Global markets reopened this week under the shadow of a fresh wave of US military strikes in Iran, triggering a sharp rise in oil prices. West Texas Intermediate crude jumped nearly 4% to around $74 per barrel, while Brent crude rose to about $78 per barrel. The geopolitical tensions have heightened market uncertainty, particularly impacting energy commodities.

Asian stock markets reacted negatively to the developments. Japan's Nikkei index initially gained 0.3% but quickly reversed to a 1.3% decline. South Korea's Kospi index surged 0.58% before plummeting approximately 5.3%. Both the Shanghai and Shenzhen indices fell by about 1.2%, while Hong Kong's Hang Seng index remained near its baseline. In the US, futures contracts indicated declines of 0.9% for the Nasdaq, 0.3% for the Dow Jones, and 0.4% for the S&P 500.

Beyond geopolitical risks, investors are also focusing on the upcoming earnings season, with major banks and Netflix scheduled to report. Analysts from FactSet project a strong quarter, estimating that S&P 500 companies' second-quarter earnings will have grown by over 23% compared to the same period last year.

Separately, Israel's Leumi Group outlined a socio-economic vision aimed at improving quality of life in the country. Globes emphasized its commitment to maintaining respectful and diverse discourse in line with its ethical code, filtering out any violent, racist, or inciting language from its platform.