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Oil Prices Rise as Trump Ramps up Iran Threats
Oil prices rose over 1.2% amid geopolitical tensions and holiday-thinned Asian trading, as investors awaited US-Iran nuclear talks expected to impact global markets.
- On Tuesday, oil prices rose ahead of US and Iranian negotiators in Geneva, with Brent crude futures up 1.33 per cent and WTI up 1.29 per cent.
- Across Asia, holiday closures limited trading volumes as mainland China, Hong Kong, Singapore, Taiwan and South Korea markets were closed for Lunar New Year, and US markets were shut on Monday for Presidents' Day.
- After weak GDP, Japan’s data weighed on markets as Japan's five‑year yield fell to its lowest since February 2, and the yen strengthened 0.15.
- ANZ analysts said markets remain unsettled after Iran's Revolutionary Guards navy held a drill in the Hormuz Strait, which accounts for about 20 of global oil shipments.
- Speculative flows have been growing in recent weeks as speculative positions rise, Prime Minister Sanae Takaichi faces pressure to reduce the sales tax on food, and Australia's central bank remains uncertain about further tightening.
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Cryptocurrency and Other Global Markets React to Upcoming US-Iran Talks
The market cap of the cryptocurrency segment is down by 0.03%. Major markets are down, possibly also due to the Lunar New Year. The crypto market is now working its way around the recent US Housing report. US-Iran talks, scheduled to happen in Geneva later today, have attracted a lot of attention. This is to an extent that the cryptocurrency and other global markets have reacted to it. The reaction could also be a response to reports circulating…
Coverage Details
Total News Sources34
Leaning Left4Leaning Right4Center9Last UpdatedBias Distribution53% Center
Bias Distribution
- 53% of the sources are Center
53% Center
L 24%
C 53%
R 23%
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