Singapore Shares Slide at Open amid Middle East Unrest, Rising Crude Prices

MT Newswires

08/18

Singapore shares saw a weak opening on Tuesday as investors remained cautious amid rising oil prices due to the resurgence of unrest in the Middle East.

The Straits Times Index dropped 0.86%, or 49.41 points, to open at 5,694.18.

Crude prices climbed as prospects for a Middle East resolution appeared increasingly distant, following statements from US President Donald Trump indicating no interest in extending the peace agreement with Iran upon its expiration. Recent military strikes in Lebanon further reignited regional tensions.

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