Global markets uneasy as war fears keep oil near $100

Stocks dipped and oil prices steadied on Friday, at the end of a turbulent week in which attacks on Gulf energy infrastructure rattled global markets and sparked fears of an energy shock.
US President Donald Trump said Israeli forces would not target any more of Tehran's energy infrastructure, while Israeli Prime Minister Benjamin Netanyahu indicated the end of the fighting could be close.
'Some calm has descended on markets after a brutal week, but fears remain elevated about how economies will respond to an inflation shock sparked by rampant energy prices', said Susannah Streeter, chief investment strategist at Wealth Club.
European stock markets dipped around midday on Friday, after heavy losses on Thursday.
Wall Street ended lower on Thursday despite a late rally, while Asian stock markets ended the week lower.
The dollar firmed against main rivals on Friday.
Disruption to energy supplies persisted as Kuwait reported a fire at its Mina Al Ahmadi refinery, a day after a direct hit on Qatar's vital Ras Laffan facility.
Brent crude had soared to as high as $119 a barrel on Thursday after Tehran struck a number of energy sites around the Gulf in retaliation for Israel's attack on its South Pars field.
As the conflict drags on, equities remain sensitive to fears over global energy markets, with oil still holding around $100 a barrel amid the effective closure of the crucial Strait of Hormuz.
The European Central Bank on Thursday warned that the energy shock caused by the war would sharply push up inflation and hit eurozone growth.
Amidst concerns over economic impacts of the war, the ECB, Bank of England and the US Federal Reserve all held interest rates steady this week, as did the Bank of Japan.
After the BoE flagged inflation risks, UK 10-year bond yields surged to the highest level since the 2008 global financial crisis.
Russia's central bank on Friday cut its key interest rate to 15 per cent from 15.5 per cent as the country's economy slows under pressure from Moscow's protracted and expensive war in Ukraine and Western sanctions.
At the same time, Russia's economic fortunes have been buoyed by surging oil prices triggered by the war in the Middle East.
Disruption to shipping through the Strait of Hormuz, through which a fifth of global oil and Liquefied Natural Gas (LNG) flows, remains a key driver of energy prices.
Brent North Sea Crude: UP 0.5 per cent at $109.20 per barrel
West Texas Intermediate: Down 0.1 per cent at $95.38 per barrel
London - FTSE 100: Down 0.1 per cent at 10,055.35 points
Paris - CAC 40: Down 0.1 per cent at 7,801.39
Frankfurt - DAX: Down 0.3 per cent at 22,771.33
Hong Kong - Hang Seng Index: Down 0.9 per cent at 25,277.32 (close)
Shanghai - Composite: Down 1.2 per cent at 3,957.05 (close)
Tokyo - Nikkei 225: Closed for a holiday — AFP