The Ibex 35 loses 19,200 points at the open while oil shoots up almost 3% again due to tension in the Middle East

The Spanish stock market has started this Tuesday's session in negative territory and has given up 19,200 points on a day marked by the new surge in oil prices after the escalation of tensions between the United States and Iran. A few minutes after the opening, the Ibex 35 fell by 0.82%, to stand at 19,177 points, although it maintains an accumulated revaluation of 10.79% so far this year.

The decline comes after an already complicated previous day, in which the Spanish stock market closed with a fall of 0.25% despite crude oil prices soaring more than 9%, after new attacks between the United States and Iran occurred and US President Donald Trump reinstated the blockade on Iranian ships crossing the Strait of Hormuz. Trump also announced that he will demand from other countries compensation equivalent to 20% of the transported cargo, as a concept for the costs of guaranteeing security in the area.

Among the selective values, IAG led the declines with a fall of 2.3%, followed by Inditex, which lost 1.64%. Also trading in the red were Santander (-1.03%), BBVA (-0.71%) and Iberdrola (-0.33%). On the opposite side, Indra stood out, advancing 4.31%, and Repsol, with a rise of 1.37%, favored by the increase in oil prices.

Investors remain attentive to the publication of the Consumer Price Index (CPI) for June in the United States and the appearance before Congress of the President of the Federal Reserve, Kevin Warsh. These references come in a context of uncertainty due to the impact that the escalation of crude oil may have on inflation and on the evolution of interest rates.