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Singapore Shares Open Lower as Middle East Tensions Drive Oil Prices Up

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Singapore shares opened lower on Thursday after the U.S. Federal Reserve maintained its benchmark interest rate and rising crude oil prices weighed on investor sentiment.

The Straits Times Index was down 1.30%, or 74.25 points, to open at 5,638.940.

In a press conference on Wednesday, US Fed Reserve Chair Warsh, said the decision was driven by concerns over inflation, which has remained above the Fed's medium-term target of 2%.

Investor sentiment was also dented by the Brent Crude hovering near the $90 mark after Trump threatened more strikes against Iran. A drop in US oil inventories also weighed on oil prices.

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