- Israel-Hamas war causes 86-percent dive in Gaza GDP: IMF
- Milan's Morata moves house after Inter-fan town mayor 'violates' privacy
- 'Devastating' storm hits Augusta National but Masters will go on
- Relief in Brazil, Asia over delay to EU deforestation rules
- Oil prices jump, stocks fall on Middle East tensions
- Biden says 'discussing' possible Israeli strikes on Iran oil facilities
- Oil prices rise, stocks fall on Middle East tensions
- Oil rallies, stocks mostly retreat on Middle East tensions
- Phasing out teen smoking could save 1.2 mn lives: study
- 'Welcome relief': Asia producers hail EU deforestation law delay
- Japan PM slated to announce plans for 'happiness index'
- Turkish inflation falls less than expected in September at 49.4%
- Easing inflation lifts profit at UK supermarket Tesco
- Skiing calls on UN climate science to combat melting future
- China wine industry looks to breed climate resilience
- Tokyo rallies on weak yen, Hong Kong drops after surge
- Dutch airline KLM unveils 'firm' cost-cutting measures
- Carpe diem: the Costa Rican women turning fish into fashion
- Senegal looks to aquaculture as fish stocks dwindle
- Will AI one day win a Nobel Prize?
- Climate change, economics muddy West's drive to curb Chinese EVs
- Argentina's Milei vetoes university budget after huge protests
- TotalEnergies plans to grow oil and gas production until 2030
- 2024 Nobels offer glimmer of hope as global crises mount
- Tokyo rallies on weak yen, Hong Kong reverses after surge
- Tunisia readies for vote as incumbent Saied eyes victory
- High childcare costs in US weigh on women's employment
- US voters seek help with crushing childcare costs
- Taiwan shuts down for second day as Typhoon Krathon to land
- Supercharged storms: how climate change amplifies cyclones
- Biden official urges talks as US port strike enters second day
- Huge protests in Argentina over public university cuts
- Rally in oil prices loses steam on mixed day for global stocks
- South America treated to rare 'ring of fire' eclipse
- Biden official says port strike deal not as far as parties think
- Mexico's new president offers apology for 1968 student massacre
- Historic funding round values OpenAI at $157 billion
- Mixed US car sales in Q3 as industry hopes for post-election bounce
- Thunderstorms are a 'boiling pot' of gamma rays, scientists find
- Scientists unlock secret of 'Girl With Pearl Earring'
- Dolphins flash friendly grins when they're ready to play
- Facing backlash, EU moves to delay deforestation rules
- US private sector adds more jobs than expected in September: ADP
- Boys out of critical condition after Zurich stabbings
- Spain logs record summer tourism as inflow draws protests
- Hedi Slimane quits as Celine's artistic director
- Oil prices extend rally on Iran attack
- Spain welcomed record number of tourists this summer
- France says coming tax hikes on the wealthy to be 'temporary'
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Oil prices jump, stocks fall on Middle East tensions
Oil prices surged and major stock markets mostly retreated Thursday as investors reacted to fears of widening conflict in the Middle East.
Prices jumped after US President Joe Biden said he was "discussing" possible Israeli strikes on Iranian oil sites in retaliation for Tehran's missile barrage on Israel.
Brent, the international benchmark, topped $77 per barrel at one point while the US contract, WTI, flirted with $74 as both rose more than five percent before paring some gains.
The Dow and broad-based S&P 500 were down in New York but the tech-heavy Nasdaq was up while the London, Paris and Frankfurt stock exchanges closed in the red.
A strike by US dockworkers and speculation about the US Federal Reserve's next interest rate moves also had an influence on investors, with a key employment report coming Friday.
The dollar gained, helped by its haven status, with the British pound sinking more than one percent against the greenback as Bank of England chief Andrew Bailey hinted at faster cuts to UK borrowing costs.
In Asia, Tokyo closed two percent higher as the yen eased, providing oxygen to the country's exporters.
Hong Kong fell for the first time in more than a week after a blistering surge fuelled by China's bold steps to stimulate its weak economy.
Iran's missile attack on Israel this week has raised fears that Israel's conflict with Tehran-backed Islamist militants in Gaza and Lebanon may grow into a wider regional war.
"Markets are in a state of suspense, bracing for Israel's anticipated retaliation against Iran -- a move that could catapult oil prices skyward," said independent markets analyst Stephen Innes.
Iran, which backs Lebanese militant group Hezbollah, said it would step up its response if Israel counterattacked, defying calls for de-escalation in a war that has cost more than 1,000 lives in Lebanon.
Israel's military said Thursday it had hit Hezbollah's intelligence headquarters in the Lebanese capital, as troops battled militants near the border and warplanes bombarded their strongholds around the country.
Analysts, however, said oil price gains could be limited as US stockpiles rose more than expected last week while Libya's eastern administration announced Thursday it had ended a month-long production and export blockade.
The Saudi-led OPEC+ oil cartel, meanwhile, is due to raise production from December, further easing concerns about supply.
Investors will turn their attention to key US non-farm payroll jobs report on Friday, which could provide clues about the Fed's plans for interest rates after last month's first cut in four years.
Data on Wednesday showed a surprise uptick in US private sector hiring in September.
"Friday's official payroll report will be critical, especially as markets weigh geopolitical risks against the domestic economy’s performance," said Fawad Razaqzada, market analyst at City Index and Forex.com.
- Key figures around 1550 GMT -
Brent North Sea Crude: UP 3.8 percent at $76.73 per barrel
West Texas Intermediate: UP 4.1 percent at $73.00 per barrel
New York - Dow: DOWN 0.4 percent at 42,031.54 points
New York - S&P 500: DOWN 0.1 percent at 5,705.02
New York - Nasdaq: UP 0.1 percent at 17,944.63
London - FTSE 100: DOWN 0.1 percent at 8,282.52 (close)
Paris - CAC 40: DOWN 1.3 percent at 7,477.78 (close)
Frankfurt - DAX: DOWN 0.8 percent at 19,015.41 (close)
Tokyo - Nikkei 225: UP 2.0 percent at 38,552.06 (close)
Hong Kong - Hang Seng Index: DOWN 1.5 percent at 22,113.51 (close)
Shanghai - Composite: Closed for a holiday
Pound/dollar: DOWN at $1.3107 from $1.3266 on Wednesday
Euro/dollar: DOWN at $1.1017 from $1.1048
Euro/pound: UP at 84.03 pence from 83.26 pence
Dollar/yen: UP at 146.75 from 146.38 yen
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A.Leibowitz--CPN