European shares avoided the sell off that had swept Asian markes overnight, even as oil prices rose again amid few signs that the Iran war is likely to end quickly. Brent crude oil jumped once more, adding 3.7 per cent to hit $84 per barrell. As surging oil prices on the Iran war threaten a spike in inflation and pressures importers — Korea is the world’s eighth-largest crude consumer — investors are rethinking overheated equity bets. Trading in both Kospi and Kosdaq shares was suspended for 20 minutes after the gauges fell by the 8 per cent threshold. Energy shares Daesung Energy, Kukdong Oil & Chemicals and Korea Petroleum Industries all rose about 30 per cent.

Source: The Irish Times March 04, 2026 08:06 UTC