European stock exchanges extend losses with oil barrel above 100 dollars

The main European stock exchanges were extending their losses today, with declines exceeding 1.2%, reflecting instability in the financial markets. The sharp fall in the stock exchanges was directly related to the rise in the price of the oil barrel, which advanced more than 3% to values above 100 dollars. This increase in oil prices was caused by the new attacks between Washington and Tehran, in an escalation of tension between the two countries. Investors were thus reacting to developments in the geopolitical conflict between the United States and Iran.