- Draft UN climate pact leaves open thorny question of money
- Two giant pandas arrive in US from China aboard 'Panda Express'
- Musiala and Upamecano return to Bayern training
- Wirtz return 'unclear' after injury on Germany duty
- Ghulam says 'wait is over' after century on Pakistan debut
- Boeing to raise up to $25 bn as strike weighs on finances
- Two giant pandas arrive in US from China
- Japan hold Australia, S. Korea and China win in World Cup qualifying
- Mbappe's golden-boy image takes a hit amid negative headlines
- Hezbollah threatens to attack targets across Israel
- Oil prices fall on easing Middle East fears
- Wales lock Jenkins to miss November Tests with 'horrible' injury lay-off
- France to play Israel in Paris and allow fans in
- Twin panda cubs to make public debut at Berlin zoo
- Scotland's Kinghorn maintains Lions 'dream' despite Toulouse clash
- Pakistan debutant Ghulam hits century to defy England in second Test
- Boeing announces intention to raise up to $25 bn
- Tuchel 'in talks with FA' over England manager's job
- Dutch rider Lavreysen targets record at world track championships
- Bangladesh suspend Hathurusingha as coach after alleged assault
- Russian Olympic chief announces surprise resignation
- Ferguson to leave Man Utd ambassador role as club cuts costs
- Turkish govt defends tax plan to fund defence industry
- Oil prices tumble on easing Middle East fears
- Eidevall quits as Arsenal Women head coach
- US, Philippines launch war games after China's Taiwan drills, ship collision
- Swedish prosecutor confirms 'rape' probe without naming Mbappe
- England dismiss Ayub but Pakistan reach 173-3 at tea in second Test
- Israel vows to put 'national interest' first in response to Iran attack
- Oil prices hit by easing Middle East fears, most Asian markets rise
- Mbappe-PSG salary row faces hearing as France captain cited in 'rape' report
- K-pop star tells South Korea lawmakers of workplace bullying
- Ex-Wallabies captain Elsom denies wrongdoing after arrest warrant
- Pakistan 79-2 at lunch in second England Test after Leach strikes
- Hopes pinned on peace across Taiwan Strait after drills
- Valencia fans leave Singapore with 'stern warning' after protest
- Falling sales cause sour grapes for iconic Portugal wine
- Belgian pathologist and literary star gives 'voice to the dead'
- Ethiopia's 'korale' recyclers turn waste into money
- Italy row, AI in focus at world's biggest book fair
- US, Philippines launch war games a day after China's Taiwan drills
- Scotland lock Gray signs for Japan's Toyota
- Allen and Bills foil Rodgers, outlast Jets 23-20
- North Korea blows up roads connecting it to the South
- East Timor fights new battles 25 years after independence vote
- Japan election campaigns kick off for Oct 27 vote
- Home runs propel Mets, Yankees to MLB playoff victories
- Taiwan detects record 153 Chinese military aircraft after drills
- Oil prices drop on easing fears over Middle East, most markets rise
- Reoxygenating oceans: startups lead the way in Baltic Sea
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Oil prices rise, stocks slide on fears of broader Middle East war
Oil prices rallied and global stocks mostly fell Wednesday on fears that the Israel-Hamas conflict could spill over into a regional war after a strike at a Gaza hospital dealt a blow to President Joe Biden's diplomatic drive.
Crude futures briefly vaulted three percent higher as fears grew over broadening unrest that could destabilise the crude-rich Middle East, with some analysts predicting a possible return to $100 oil.
Gold hit a four-week peak as investors sought the safe haven investment, with the dollar also picking up as investors sought refuge.
"Last night's explosion at a Gaza hospital, which killed hundreds, has raised the stakes of the conflict and, according to some analysts, reduced the chances of a negotiated solution," said ActivTrades analyst Ricardo Evangelista.
He estimated there was now a higher probability that other countries in the region, such as Iran, could end up involved in the dispute.
"This scenario would almost certainly affect the global oil supply and could drive the price of the barrel to levels above the $100 mark," he added.
World stock markets had enjoyed a healthy run Tuesday on optimism the crisis could be contained even as Israeli Prime Minister Benjamin Netanyahu prepared for a ground offensive in the blockaded territory.
Biden had planned to visit Israel on Wednesday to meet with Netanyahu and then travel on to Jordan for a meeting with Jordanian King Abdullah II, Palestinian leader Mahmud Abbas and Egyptian President Abdel Fattah al-Sisi on finding possible ways to de-escalate the conflict.
But news that at least 200 people had been killed in the rocket strike on the hospital saw the Arab leaders cancel the summit in Amman and fanned concerns of a regional conflagration. Iran this week warned that a wider war was becoming "inevitable".
Gaza's health ministry has blamed Israel for the hospital explosion, but Israel insists it was caused by a rocket misfired by Hamas ally Islamic Jihad.
There was an increase in fighting between Israeli troops and Tehran-backed Hezbollah on the Lebanon border.
Biden said Wednesday the United States would work with Israel to prevent civilian deaths as it pounds Gaza. He also backed Israel's stance blaming Palestinian militants for the rocket strike on a hospital.
"Whoever turns out to be responsible the facts no longer matter given that most people have already made up their minds, sending gold prices to four-week highs, and oil prices to two-week highs," said Michael Hewson at CMC Markets.
European equity markets fell across the board and London was also dented by news of stubbornly high UK inflation.
Wall Street's main indices were firmly lower in late morning trade.
Asian markets mostly dropped, with Hong Kong, Shanghai, Singapore, Mumbai, Jakarta, Taipei and Manila all down.
Sydney, Seoul, Wellington and Bangkok edged up. Tokyo was flat.
- China growth -
Forecast-busting economic growth data out of China provided a shaft of light for traders.
The 4.9 percent third-quarter expansion was slower than the previous three months but much better than analysts' estimates, lifting hopes that the world's number-two economy was seeing some stabilisation after a difficult year.
The figures were helped by a healthy jump in retail sales, suggesting the country's consumers are regaining a little confidence, though officials continue to face calls for more stimulus to kickstart the economy.
- Key figures around 1530 GMT -
Brent North Sea crude: UP 1.4 percent at $91.11 per barrel
West Texas Intermediate: UP 1.5 percent at $87.98 per barrel
New York - Dow: DOWN 0.5 percent at 33,832.06 points
London - FTSE 100: DOWN 1.1 percent at 7,588.00 (close)
Frankfurt - DAX: DOWN 1.0 percent at 15,094.91 (close)
Paris - CAC 40: DOWN 0.9 percent at 6,965.99 (close)
EURO STOXX 50: DOWN 1.1 percent at 4,105.86 (close)
Tokyo - Nikkei 225: FLAT at 32,042.25 (close)
Hong Kong - Hang Seng Index: DOWN 0.2 percent at 17,732.52 (close)
Shanghai - Composite: DOWN 0.8 percent at 3,058.71 (close)
Euro/dollar: DOWN at $1.0533 from $1.0579 on Tuesday
Pound/dollar: DOWN at $1.2150 from $1.2182
Dollar/yen: UP at 149.86 yen from 149.82 yen
Euro/pound: DOWN at 86.69 pence from 86.81 pence
burs-rl/jj
O.Norris--AMWN