Asian stocks pulled back while European markets opened higher on Monday as worries about potentially escalating tensions in the Middle East rattled financial markets, pushing investors to look for safer places for their money.
A barrel of benchmark U.S. oil declined 97 cents to $84.69 a barrel. Brent crude, the international standard, lost $1.22 to $89.23. Slower demand from China, combined with forecasts that growth in supply is outpacing demand, has kept prices in check. European markets were mostly higher in early trading, with Germany’s DAX up 0.8% to 18,075.85. The CAC 40 in Paris rose 0.6% to 8,060.14. In London, the FTSE 100 slipped 0.5% to 7,959.92.In currency trading, the U.S. dollar rose to 153.87 Japanese yen from 153.07 yen, hitting another 34-year high as investors shifted toward the traditional haven in times of uncertainty. The euro cost $1.0659, up from $1.0635.Hong Kong’s Hang Seng dropped 0.6% to 16,619.33. The Shanghai Composite gained 1.