An investor sits next to a stock quotation board at a brokerage office in Beijing, China January 3, 2020. REUTERS/Jason LeeLONDON (Reuters) - World shares steadied and oil pulled back from multi-month highs on Tuesday after dramatic post-new year moves, as investors judged prospects of an all-out conflict between the United States and Iran had eased.After a strong rally, oil gave back some of its gains amid signs that Iran would be unlikely to strike against the U.S. in a way that would disrupt supplies. [O/R]Brent crude futures fell 49 cents to $68.42 a barrel, having been as high as $70.74 on Monday, while U.S. crude dropped 42 cents to $62.85.European equities meanwhile rose 0.7%, tracking similar gains in Asia. “To be sure, Iran adds an additional layer of complexity.”“But while the risk of conflict has increased, the reality is this is likely to be limited to proxy skirmishes,” he said. “The risk of a “hot” conflict seems low as Iran is unlikely to respond in such a way that risks a significant escalation from the United States.”

Source: Egypt Today January 07, 2020 09:11 UTC