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Oil prices rise, global stock markets drop

(AP) — Oil prices rose and global stock markets fell today after Iran fired missiles at U.S. bases in Iraq in retaliation for the killing of an Iranian general.

Brent crude futures, the benchmark for international oils, spiked more than $3 per barrel in London before retreating. Stock markets in London and Frankfurt opened lower and Tokyo’s benchmark fell nearly 2% before recovering some of its losses. Hong Kong and Shanghai also retreated.

Wall Street is expected to open lower, with S&P futures down 0.2% and Dow futures down 0.4%.

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