Markets slide on Iran tension as oil price spikes above $70

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Markets slide on Iran tension as oil price spikes above $70
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Share indices in London, Frankfurt and Paris were in the red as markets reacted to the latest turbulence in the Middle East.

The price of gold, a traditional safe haven during times of market turbulence, climbed to its highest level since April 2013.that could disrupt oil supplies.Iran crisis: 'We will not lament Soleimani's death,' Boris Johnson says

The US attack had already pushed the oil price sharply higher on Friday and tensions rose further over the weekend, with US President Donald Trump saying America would strike back"perhaps in a disproportionate manner" if Iran retaliated. Meanwhile, Iraq's parliament recommended all foreign troops be ordered out of the country, prompting Mr Trump to threaten sanctions against the country - the second largest producer among the Organisation of Petroleum Exporting Countries.surged brieflyThe US-Iran tensions have dampened initial hopes for a rally in global shares this year on the back of an imminent trade deal between American and China.

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