Global stocks fall after Iran says ceasefire breached, oil up
Global stock markets took a dip after Tehran said several terms of the ceasefire agreement had been breached.
Earlier, investors were feeling upbeat about better oil supply and economic growth, but that optimism faded fast.
The MSCI Asia Pacific index dropped 0.4%, while oil prices jumped; Brent crude shot up 2.5% to $97.12 a barrel, highlighting just how jumpy things are right now.
Strait of Hormuz closure slows exports
Things in the Middle East are tense, with Israeli attacks in Lebanon threatening the already fragile U.S.-Iran ceasefire.
The closure of the Strait of Hormuz, a major route for shipping oil, has slowed energy exports to a crawl; only three ships left there on Wednesday.
Analysts say everyone's keeping a close eye on these hotspots since any new flare-up could keep global markets and oil prices on edge for a while.