CAC 40 Falls 0.37% to 8,177.33 as Oil Spikes on Middle East Tensions

On May 28 the CAC 40 slipped 0.37% to 8,177.33 after Brent crude surged nearly 2% to $95.98/bbl on renewed Middle East hostilities. The pullback reversed the prior session’s rebound, when the index climbed intraday to 8,246.96 before closing 0.43% higher at 8,207.89 as oil eased below $94. The three-day swing began with a 0.93% drop to 8,181.21 on May 26 after U.S. strikes on Iran and hawkish ECB comments; consumer confidence also hit a 2023 low while the CAC 40 VIX reached a 52-week peak of 18.96.