Oil prices surge following Iranian missile strikes on Israel in Middle East turmoil – live updates | Business

Eurozone unemployment remained at a record low of 6.4% in August, despite a weakening economy, with economists predicting an increase in the coming months. Israel is considering targeting Iranian oil refineries in retaliation for a missile attack, while Maersk continues to send ships to Beirut despite incursions and bombardments. Saudi Arabia warns of oil price drops to $50 per barrel, JD Sports struggles with disruption in the Red Sea and wet weather, and musicMagpie agrees to a £10m takeover by AO World. Oil prices have risen as European traders react to the Middle Eastern conflicts, boosting oil companies like BP and Shell. Meanwhile, European stock markets have gained ground, with selloff limited to oil prices. Oil prices have risen, with Brent crude up 1.6% to $74.75 and West Texas Intermediate up 1.7% to $70.98 as investors await Israel’s response to Iran missile attacks. Asian stock markets outside China slump, while Hong Kong soars amid Beijing’s stimulus. Investors are waiting to see Israel’s response to Iran, as markets stabilize after initial risk-off sentiment. The agenda includes the Eurozone unemployment rate and US ADP employment change numbers.

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