Rising Oil Prices Weigh Down Singapore Stocks at Opening

MT Newswires

09/08

Singapore shares extended their losses at opening on Tuesday as growing tensions in the Middle East continued to worry investors, with rising oil prices adding to inflation concerns.

The Straits Times Index (STI) opened about 21.0 points, or 0.36%, lower on Tuesday at 5,771.31.

Oil prices rose to a six-week high on Monday, with Brent touching $97.93 a barrel, in the wake of the escalation in the renewed clashes between the U.S. and Iran.

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