Pakistan, June 24 -- Oil prices wobbled and stock markets wavered Monday as traders awaited Tehran's response to US strikes on Iranian nuclear facilities over the weekend.
European stocks mostly retreated while Asian equities were mixed, with markets keeping a close eye on whether Iran will block the crucial Strait of Hormuz, which carries one-fifth of global oil output.
When trading opened on Monday, international benchmark crude contract Brent and US equivalent WTI both jumped more than four percent to hit their highest price since January.
They later dipped briefly into the red before recovering to trade slightly higher in midday trading.
"Will Iran choose to choke off the Strait of Hormuz or not? That is the big question," said Bjar...