Global stocks edge higher as Iran sanctions spark oil market swings

Global equities rose modestly as new U.S. sanctions tightened Iran’s economy, contributing to volatility in energy markets (Brent around the high $80s and U.S. crude near $83). Iran’s rial hit a record low, while the U.S. dollar strengthened against the yen and the euro hovered around $1.167, as investors awaited Fed chair Kevin Warsh’s remarks in Jackson Hole for clues on inflation and policy.