Asian markets fluctuated Wednesday as Federal Reserve boss Jerome Powell's indication that interest rates could stay higher for longer offset a rebound following the latest bout of Middle East-fuelled selling.
European stock markets rebounded Wednesday after heavy losses the previous session, as traders tracked fallout from Iran's attack on Israel and assessed the outlook for interest rates.
Oil prices edged lower as gains sparked by growing geopolitical risks were curbed by the Federal Reserve signaling elevated inflation will likely delay interest-rate cuts this year.
Crude oil futures fluctuate in an indecisive session following three days of declines, as traders appear to keep the geopolitical risk premium on hold. Despite the oil price drop since Iran's attack on Israel last weekend,