Stocks Edge Higher as Oil Drops on Fresh Mideast Hopes
Crude fell more than 8% this week as diplomacy with Tehran and Oman eased inflation fears and lifted equities, analysts said.
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4 Articles
Stocks edge higher as oil drops on fresh Mideast hopes
Both main crude contracts have tumbled more than eight percent this week as Tehran and Oman edge towards a deal to partially reopen the Strait of Hormuz, while signs of fresh diplomacy to end the Middle East crisis added to the upbeat mood. While US Treasury Secretary Scott Bessent said the White House was declaring an "economic D-Day" against Iran and its trade partners, the measures were regarded as softer than many had feared. Jason Wong at B…
Oil Falls on Fresh Iran War Diplomacy, Talks on Hormuz
Oil extended declines as fresh diplomatic efforts helped renew optimism the Iran war would not escalate, while a US plan to ramp up economic pressure on Tehran spared the country’s trading partners from harsher measures for now.
The oil market is starting to bet on something that until a few days ago seemed extremely uncertain: that the military phase of the American conflict with Iran may be approaching... New heavy losses for oil – War in Iran, is it over? - NAVTEMBORIKI
Asian stocks are trading broadly flat on Wednesday morning. A drop in oil prices is pulling down bond yields, amid hopes that critical oil shipments through the Strait of Hormuz will soon resume.
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