Iran conflict drives markets down

The escalating tension between the United States and Iran in the Gulf region led to a more than 4% increase in oil prices, reaching their highest levels in over a month amid concerns over the closure of the Red Sea and restrictions on navigation through the Strait of Hormuz. In global market developments, Wall Street experienced weekly losses due to declines in semiconductor stocks linked to the AI boom, while gold prices rose to $4,023 an ounce but recorded an overall weekly decline of 2.6%. In the industry sector, Boeing maintained its forecast of strong worldwide demand for aircraft over the next twenty years despite ongoing geopolitical tensions.

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