Oil prices rose Wednesday and stocks fell amid fresh concerns about Middle East supplies following a warning that Iran appeared to be stepping up attacks in the Strait of Hormuz, AFP reports.
The retreat came as investors brushed off another record day on Wall Street where the Nasdaq and S&P 500 were boosted by a rush back into the AI trade that saw chip titan Nvidia push towards a $6 trillion market capitalisation.
However, both contracts rebounded on Tuesday and rose in early Asian trade, as figures showed Tehran had increased strikes on tankers in the crucial Strait of Hormuz.
UK Maritime Trade Operations said there had been nine attacks so far this month, half of all of September in the waterway and Persian Gulf combined.
Meanwhile, Yemen’s Houthis claimed an attack on Riyadh’s main airport and denied reports it had been pushed back by government forces, who have launched a major operation to recapture lost territory.
