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[BUSINESS] · Spain, United States, Iran, Qatar · 11 sources

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Ibex 35 fluctuates amid Middle East tensions and rising oil prices

The Ibex 35 has shown volatility, recently attempting to recover above the 19,500 and 19,600 point levels. Market performance has been heavily influenced by banking stocks, such as Banco Santander, and fluctuations in oil prices. Brent crude has seen significant movement, trading at levels exceeding $103 per barrel.

Geopolitical tensions in the Middle East remain a primary driver for market uncertainty. Iranian Foreign Minister Abbas Araqchi stated that Tehran is awaiting a formal response from Washington regarding a ‘seven-point plan’ for the reopening of the Strait of Hormuz, facilitated through Qatari mediation. This follows statements from U.S. President Donald Trump denying reports that he offered to lift sanctions on Iran in exchange for nuclear program concessions.

In Spain, macroeconomic data indicates rising inflation, with the Consumer Price Index (CPI) reaching 4.9% in September, the highest since early 2023, driven by fuel and tourism costs. Additionally, housing transactions in Spain saw an 11.1% decline in July 2026.

Entities

Abbas Araqchi · Banco Santander · Donald Trump · Fitch Ratings · Instituto Nacional de Estadística · OHLA

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