Market depressed by oil price volatility and interest rate fears

The values of the insurance and reinsurance stocks tracked by WIR deteriorated further over the two week period ending 12 June. As in the previous period, the volatility of the oil price was a significant factor. Indeed, the price of crude oil futures touched $139.00 a barrel when an Israeli government official said that an attack on Iran’s nuclear facilities by Israel was ‘unavoidable.’