Financial markets entered the week cautiously after renewed conflict in the Middle East revived concerns over oil supplies, inflation and global interest rates.
Financial markets started the week on a cautious footing after renewed military strikes between the United States and Iran over the weekend revived concerns about oil supplies, inflation and interest rates.
United States futures traded lower on Monday morning following Friday's gains on Wall Street, while Asian markets weakened as investors assessed the latest developments in the Middle East.
Brent crude climbed about 4% to around $79 a barrel amid renewed concerns over the Strait of Hormuz, one of the world's most important oil shipping routes.
Despite the renewed geopolitical uncertainty, the rand remained relatively resilient, trading at R16.39 against the US dollar.
