Bitcoin hovers below $65,000 as Middle East tensions escalate further
Brent crude has meanwhile moved to over $83 a barrel after Yemen’s Iran-linked Houthis attacked Saudi Arabia, further escalating tensions in the Middle East.
US stocks finished lower on Thursday, after a strong start to the week. Investors were digesting corporate earnings and looking for signs of progress towards a peace deal between the US and Iran.
Oil prices rose, with US crude settling at $77.29 a barrel and Brent crude at over $82 a barrel, and later $83 a barrel, after Yemen’s Iran-linked Houthis attacked Saudi Arabia. An Iranian parliamentary committee is reviewing a preliminary bill that would bar US, Israeli and other “hostile” vessels from transiting the Strait of Hormuz.
The Dow Industrials and S&P 500 had reached record highs earlier in the week, helped by a robust earnings season and growing optimism over a potential end to hostilities in the Iran war. According to Robert Bernstone, head of trading at SummitTX Capital in New York, investors may be experiencing "headline fatigue" around Iran.
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