Oil prices rose and global stock markets fell after Iran fired missiles at U.S. bases in Iraq in retaliation for the killing of an Iranian general.
Brent crude futures, the benchmark for international oils, spiked more than $3 per barrel in London before retreating.
Brent crude was up 78 cents at $69.05. At the start of trading, it spiked $3.48 to $71.75 before retreating.Benchmark U.S. crude was up 55 cents to $63.25 per barrel in electronic trading on the New York Mercantile Exchange. It earlier jumped $2.95 to $65.65 before settling back. On Wall Street, the future for the benchmark Standard & Poor’s 500 index lost 0.2% and that for the Dow Jones Industrial Average was off 0.4%.
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