Oil prices nudge higher again as traders eye Middle East tensions; China’s central bank defies expectations of a cut and holds interest rates steady
European stock markets have opened cautiously higher.
The UK’s FTSE 100 index has edged up 9 points to 7,634, a 0.1% gain. Germany’s Dax and France’s CAC are also up 0.1%, while Spain’s Ibex has gained 0.2%, Portugal’s PSI 20 rose 0.5% and the Italian borsa is flat to slightly lower.
There are supply risks for the market given in the escalation in the Red Sea.
However, for now we are not seeing any impact on oil supply. And I guess we would need to see significant escalation before that happens.
