European stock markets falling, oil rising after closure of the East-West oil pipeline and postponement of Hormuz talks

Introduction

European stock markets closed lower while oil prices increased after the closure of the East-West oil pipeline and the postponement of talks on transit in the Strait of Hormuz which renewed concerns about global crude oil supplies: the American WTI gained 1.5% to 101.5 dollars while Brent was trading at 105.7 dollars, marking an increase of around 1%. Asian stock markets ended the session in decline, with oil and gas prices gradually rising in the wake of the worsening of the geopolitical crisis in the Middle East. The topic of investments for the development of artificial intelligence is also under the spotlight. As the hours passed, the price of oil reduced its rise. Wall Street closes lower, but manages to limit losses.