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GLOBAL MARKETS-Stocks Jump While Oil and Dollar Ease on Iran Peace Hopes
Global equities rose as traders bet a deal could reopen the Strait of Hormuz, while Brent crude fell 6% and the dollar weakened, analysts said.
- On Monday, global stocks surged as prospects of an Iran peace deal buoyed risk appetite, with Brent crude falling over 4% to $98.83 a barrel as hopes of reopening the Strait of Hormuz pushed oil below $100 per barrel.
- President Donald Trump claimed Saturday that a memorandum of understanding had been 'largely negotiated' with both countries and mediators in Pakistan reporting progress, but on Sunday said the US blockade on Iranian ships would 'remain in full force and effect until an agreement is reached, certified, and signed.'
- Analyst Chris Weston, head of research at Pepperstone Group Ltd, cautioned that 'Markets have become conditioned to be incredibly patient on a tangible breakthrough' but warned 'we will need to see an agreement in place in the coming sessions as we know there are still some major sticking points.'
- Japan's Nikkei jumped roughly 3% to break past 65,000 for the first time with Taiwan stocks at record highs, while the pan-European STOXX 600 climbed over 1.5% and the euro rose 0.4% as the safe-haven dollar weakened.
- Markets now fully price in a 25-basis-point Federal Reserve hike in January 2027, a sharp reversal from pre-conflict expectations of two rate cuts this year, as energy inflation and record-low US consumer sentiment complicate the policy outlook for new Fed Chair Kevin Warsh.
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38 Articles
Oil price rises towards $100 a barrel as markets cling to US-Iran peace deal hopes – business live - The Guardian
Oil price rises towards $100 a barrel as markets cling to US-Iran peace deal hopes – business live The Guardian Article Attribution | Read More at Article Source The post Oil price rises towards $100 a barrel as markets cling to US-Iran peace deal hopes – business live – The Guardian appeared first on RocketNews.
Coverage Details
Total News Sources38
Leaning Left4Leaning Right4Center9Last UpdatedBias Distribution53% Center
Bias Distribution
- 53% of the sources are Center
53% Center
L 24%
C 53%
R 23%
Factuality
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