International markets continue to decline in the second week of March as oil prices surge above the $100 mark. In Seoul, the index fell by 5.96%, while in Shanghai, the decline was more moderate at 0.67%. The negative sentiment in the markets is exacerbated by the sharp rise in oil prices, reaching a peak not seen since 2022 when Russia invaded Ukraine. Consequently, the price of Brent crude, the European benchmark, climbed to the $120 zone before moderating to $105.5, an increase of 13.8%. Following this, the Dutch TTF futures contract, considered the European benchmark, rose to 61.7 euros per megawatt-hour. In Europe, stock markets opened in the red, with Paris down 2.72%, Frankfurt down 2.51%, Milan down 2.79%, London down 2.71%, and Madrid down 3.22%. In this context, the Euro Stoxx 50 index plummeted by 2.76%, and in Spain, the Ibex 35 fell by 2.81%, dropping below the 17,000-point mark. This represents a 10% decline (2,000 points) in just over a week following the outbreak of the conflict. In the Asian continent, negative records are once again being seen in the main markets. Tokyo ended the session with a 5.24% drop, and Hong Kong with a 1.35% drop. Meanwhile, the U.S. benchmark West Texas Intermediate (WTI) crude also touched $120 before falling to $102.9, a 13.3% rise from the last close. The moderation in values is tied to the possibility that the G7 may decide on Monday to release their oil reserves in coordination due to the persistent closure of the Strait of Hormuz, through which nearly 20% of the world's oil passes. Additionally, European gas prices also continue their surge, rising by more than 15% due to the conflict threatening to disrupt natural gas liquefied (LNG) exports from the Gulf. Buenos Aires, March 9 (NA) – The stock markets of Europe and Asia register a new decline at the start of the second week of March as oil prices skyrocket above $100 amid the escalation of the conflict in the Middle East. International markets are deepening their fall amid the persistent confrontation between the United States, Israel, and Iran.
