Oil prices rose further Thursday on resurgent Middle East hostilities, fanning concerns about high inflation that is widely expected to push the European Central Bank to raise interest rates this afternoon. Brent North Sea crude, the main international benchmark, traded near $102 a barrel, having surpassed $100 on Wednesday for the first time since late July, while West Texas Intermediate was up 1.3 percent at $97.25 per barrel. Investors will focus on comments from ECB chief Christine Lagarde on the prospect for further hikes, which could weigh on growth across the eurozone. With the United States and Iran exchanging strikes around the Strait of Hormuz, and Saudi Arabia entangled in a conflict with Yemeni rebels allegedly seeking to control the Bab al-Mandab strait to the Red Sea, there appears little prospect Gulf energy shipments will return to normal soon. In company news, Nintendo shares sank almost five percent following an online showcase of coming games, and Apple unveiled its first folding iPhone, kicking off the era of its new CEO John Ternus.
Apple Inc.Apple unveiled its first folding iPhone, a new product/technology development.
Applovin Corp
Nintendo Co., Ltd.Nintendo shares sank almost 5% following an online showcase of coming games.
