UK stock market calms but oil prices rise over fears Iran war may drag on

Key Takeaways

• UK stock market rose on Wednesday, with the FTSE 100 up 0.65%, despite ongoing concerns about the US-Iran conflict.
• Oil prices increased by over 1% to approximately $83.50 a barrel following an attempted drone attack on Saudi Arabia's Ras Tanura oil refinery.
• The conflict has led to significant oil price jumps (15%) and attacks on vessels near the Strait of Hormuz, impacting global energy flows.
• Asian stock markets experienced a downturn for the third consecutive day, with South Korea and Thailand temporarily halting trading due to sharp declines.