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Oil rises and gold hits two-month high on new Iran deal demands
Brent climbed 1.6% to $89.15 a barrel after Trump demanded compensation from Iran, while UK consumer confidence in July reached a 21-month high, according to Barclays data.
European equities opened flat to slightly higher as oil prices pushed higher and gold hit a two-month high following new Iran-related deal demands from US President Donald Trump.
On commodities, Brent crude rose 1.6%, or $1.4, to $89.15 a barrel, moving closer to the $90 level after Trump demanded compensation from Iran, a demand that could complicate the standoff involving the Strait of Hormuz, according to The Guardian Business.
In the UK, consumer confidence reached its highest level in almost two years in July, with Barclays research citing the World Cup and more UK holidaying as tailwinds to summer spending.
Barclays said 30% of survey respondents felt confident about the strength of the UK economy in July, a 21-month high and a six-percentage-point improvement from June, and it reported consumer card spending rose 2.0% year on year in July after a 1.9% gain in June.
Latest closeGold $4,448.60 ▲2.5%|WTI crude $82.30 ▲5.3%|Brent $87.85 ▲5.2%