Stocks are wavering on Wall Street and oil prices are falling for the first time in a week, even as heavy fighting in the Middle East again threatened to slow

Shares have skidded in Asia after Brent oil shot to its highest price since May as heavier fighting in the Middle East again threatened to slow the global flow of crude

Shares have skidded in Asia after Brent oil shot to its highest price since May as heavier fighting in the Middle East again threatened to slow the global flow of crude

Brent oil's price jumped above $100 per barrel for the first time since May as increased fighting in the Middle East threatens to slow the global flow of crude

FOX Business' Taylor Riggs reacts to oil prices falling after reports Pakistan is looking to restart U.S.-Iran talks with China's backing.

Stocks in Asia were down following a sell-off in the U.S. markets over soaring oil prices, rising borrowing costs and worries about the technology industry.

Oil prices fell back below $100 a barrel on Friday from their highest level since early May, but continued tensions between the U.S. and Iran promise that the energy markets will remain elevated.

Oil prices dropped by around 3% on Friday, but remained on track for a weekly jump of 10% as the U.S.-Iran war continued to escalate.

The European Central Bank will review — and potentially adjust — its policy stance in September, according to Chief Economist Philip Lane.

The European Central Bank kept interest rates unchanged as expected on Thursday but held the door open to another increase in September, as a fresh jump in energy prices threatens to keep inflation well above its 2% target.

European Central Bank officials are prepared to raise borrowing costs in September unless the euro-zone inflation outlook improves markedly, people familiar with the situation said.

The European Central Bank kept its key interest rates unchanged on Thursday.  The interest rates on the deposit facility, the main refinancing operations, and the marginal lending facility will remain unchanged at 2.

International leaders react as President Donald Trump places new tariffs on countries accused of allowing forced labor including Canada, China and the EU.

The import duties, which will affect 60 economies and take effect on Friday, represent President Donald Trump’s latest effort to impose alternative tariffs on goods coming into the U.S. after the Supreme Court earlier this year struck down most of those he had put in place.

President Trump’s latest set of tariffs drew objections Friday from America’s trading partners including China and Japan, with Australia’s trade minister slamming them as “completely unjustified.” The administration announced tariffs of 10% to 12.

Many of America's key allies on Friday criticized the U.S. administration's new tariffs against them, after President Trump renewed the tax on imports from more than 60 countries just as the previous tariffs expired.

Commerzbank Chairman Jens Weidmann on Friday invited UniCredit ‌to open talks over the terms of a merger, as the German lender dropped any remaining resistance to the unwanted Italian takeover and focused on extracting concessions.

UniCredit SpA said it will likely assume control over Commerzbank AG soon as Chief Executive Officer Andrea Orcel moves to complete one of Europe’s largest bank deals ever.

UniCredit raised its profit targets for this year and beyond, though net profit for the second quarter was hurt by a one-off hit tied to its offer for Commerzbank.

Germany's Finance Ministry has followed Commerzbank and its works council in pushing back against UniCredit CEO Andrea Orcel's takeover ambitions for the German lender. CNBC's Carolin Roth and Annette Weisbach discuss the key sticking points that could determine whether a full acquisition of Germany's second biggest bank moves forward.