German Stocks Dip On Oil Spike And Rising Geopolitical Tensions

(RTTNews) - German stocks dropped on Tuesday, hurt by higher oil prices and rising bond yields amid persisting concerns over geopolitical tensions. Investors also looked ahead to the upcoming monetary policy meetings of the Federal Reserve, the Bank of England and the Bank of Japan. Oil prices moved up sharply amid supply concerns after Saudi Arabia closed a critical pipeline that bypasses the Strait of Hormuz following a drone attack. Additionally, a highly anticipated meeting in Oman between Iran and Gulf States was postponed at the last minute in the absence of conditions conducive to a constructive dialogue. Brent crude futures jumped to around $108.25 a barrel, gaining nearly 2.5%. The yield on Germany's 10-year bond rose to 3.