Oil prices jump 7% and stocks drop
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Dow, S&P 500 and Nasdaq set for opening gains after Friday's 770-point blue-chip fall; Oil extends gain as gold slips. Follow along to the action on Monday aft
By Wayne Cole SYDNEY (Reuters) -Asian shares proved resilient on Monday and oil prices rose anew as the conflict between Israel and Iran showed no sign of cooling, adding geopolitical uncertainty to the world's economic troubles in a week packed with central bank meetings.
Oil stocks have been longtime favorites for investors seeking income. With lower oil prices causing many oil stocks to decline in recent months, their dividend yields have risen. A user on Reddit recently asked which oil stocks with attractive dividends are the best picks right now.
Halliburton is the third-largest oilfield services company in the world, so any time oil prices go up, it's a recipe for potential further investment by oil companies in exploration, completion, and production enhancement services.
Stocks in Asia rose on Monday as investors shifted their focus to news closer to home following a weekend dominated by an escalating conflict between Israel and Iran.
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The West's energy watchdog said on Friday it was ready to release oil stocks should the market experience shortages following Israel's attack on Iran, drawing criticism from rival OPEC which said the statement would only create fear in the market.
Stocks declined as oil prices skyrocketed on Friday, June 13, after Israel attacked Iran, one of the largest oil producers in the world. That means its data centers are purpose-built to support artificial intelligence (AI) training and inference,