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Tel Aviv Stock Exchange Opens Lower Amid Escalating Israel-Iran Tensions - Jordan News

Tel Aviv Stock Exchange Opens Lower Amid Escalating Israel-Iran Tensions - Jordan News

Jordan News12 hours ago

Tel Aviv Stock Exchange Opens Lower Amid Escalating Israel-Iran Tensions In the first trading session since the exchange of missile strikes between Israel and Iran, the Tel Aviv Stock Exchange opened lower on Sunday.
The Tel Aviv 35 Index of leading stocks dropped by 1.5%, while the broader Tel Aviv 125 Index declined by 1.4%. اضافة اعلان
— (Reuters)

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Oil prices fell on Thursday, giving up some of the gains made earlier in the Asian trading session as markets digested the U.S. decision to withdraw some personnel from the Middle East ahead of planned talks with Iran over its nuclear activities. اضافة اعلان Brent crude futures dropped by 49 cents (0.7%) to $69.28 per barrel as of 06:30 GMT, while U.S. West Texas Intermediate (WTI) fell 41 cents (0.6%) to $67.74 per barrel. Both benchmarks had risen over 4% in the previous session, reaching their highest levels since early April. U.S. President Donald Trump stated that the U.S. is relocating staff because the Middle East "could be a dangerous place," affirming that Washington would not allow Iran to develop a nuclear weapon. Iran, however, insists its nuclear activities are peaceful. The heightened tensions have increased fears of potential oil supply disruptions, especially with upcoming U.S.-Iran nuclear talks scheduled for Sunday. Vivek Dhar, Director of Mining and Energy Research at Commonwealth Bank of Australia, noted: 'Some of the rally that pushed Brent above $70 was likely overdone. The U.S. hasn't identified any direct Iranian threat.' He added that Iran's response would depend on any U.S. escalation, stating: 'The price correction makes sense, but a geopolitical risk premium is likely to keep Brent above $65 until the outcome of the talks becomes clear.' U.S. and Iraqi sources told Reuters that Washington is preparing for a partial evacuation of its embassy in Iraq, and will allow families of U.S. military personnel to leave various sites in the Middle East, including Bahrain, due to rising security concerns. Iraq is OPEC's second-largest oil producer after Saudi Arabia. Kelvin Wong, Chief Market Analyst at OANDA, said the price pullback followed a technical resistance level hit on Wednesday, with some traders speculating that Sunday's U.S.-Iran meeting might ease tensions. President Trump reiterated that if negotiations on Iran's nuclear program fail, particularly regarding uranium enrichment, the U.S. may launch military strikes. Iranian Defense Minister Aziz Nasirzadeh warned on Wednesday that Iran would retaliate against U.S. bases in the region if talks collapse and conflict ensues. U.S. Special Envoy Steve Witkoff is scheduled to meet Iranian Deputy Foreign Minister Abbas Araghchi in Amman on Sunday to discuss Iran's response to a proposed U.S. agreement. Separately, the U.S. Energy Information Administration (EIA) reported a 3.6 million barrel drop in U.S. crude inventories last week, to 432.4 million barrels, surpassing analysts' expectations of a 2 million barrel decline.

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