Nervous markets eye Gaza as oil hovers above $90
© Reuters. FILE PHOTO: A woman walks past a man examining an electronic board showing Japan's Nikkei average and stock quotations outside a brokerage, in Tokyo, Japan, March 20, 2023. REUTERS/Androniki Christodoulou/File Photohovered above $90 a barrel while equities were weak and the safe-haven dollar was firm on Monday as investors nervously watched for whether escalating violence in Gaza would cause the conflict to spread beyond Israel and Hamas.
U.S. Secretary of State Antony Blinken is visiting the region, seeking to prevent further escalation. Netanyahu agreed to lift a blockade of water supplies to parts of southern Gaza after speaking with U.S. President Joe Biden.futures reached a new recent high of $91.20 on Monday before easing back slightly to $90.84, following Friday's 5.7% surge.
Benchmark 10-year U.S. Treasury yields were little changed at 4.6434%, following a more than 8 basis point decline on Friday amid demand for the safety of bonds.The euro rose 0.1% to $1.0522 while the yen was little changed at 149.505 per dollar.
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