The U.S. military strikes against Iranian targets have intensified market volatility, and Iran is developing a plan to reopen the stock market.

ME News message, on April 7 (UTC+8), a U.S. official said that the U.S. military carried out strikes against military targets on Harkh Island. As Russia benefited from the global oil price surge triggered by the situation in Iran, its crude oil price rose to the highest level in more than 13 years. According to data from Argus Media, on April 2, at Primorsk Port, the largest oil export facility on Russia’s Baltic coast, the country’s flagship-grade Urals crude oil reached $116.05 per barrel. This price excludes transportation costs and is nearly twice the average $59 per barrel assumed in Russia’s budget for this year. Amid the ongoing Russia-Ukraine conflict, substantial oil revenues are easing the Kremlin’s fiscal pressure. In addition, the head of Iran’s securities exchange organization said that there are currently four options being developed for the reopening of the Iranian stock market: 1. maintaining existing conditions, under which only fund trading is allowed, or reopening under the existing conditions but without publicly disclosing information; 2. an escalation of the fighting, which could lead to all trading being halted, including fund trading; 3. reopening after a written ceasefire agreement; 4. a gradual reopening in the absence of an agreement on a ceasefire. Iran’s stock market had previously suspended trading on March 1. (Source: ODAILY)