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Oil and Stocks Steady as US-Iran Truce Expiry Looms
Tehran has not confirmed participation as crude stays below $100 a barrel and investors hope the fragile truce will be extended.
- The United States is poised to send a team to Pakistan for fresh peace talks with Iran, though Tehran's participation remains uncertain as the fragile two-week ceasefire is set to expire on Wednesday.
- Tensions remain high as both nations trade accusations of violating the truce, while the continued blockade of the Strait of Hormuz has disrupted shipping and left up to 10 million barrels of crude oil shut in daily.
- Oil prices slipped Tuesday as markets reacted with cautious optimism, though investment director Russ Mould of Bell warned that "the longer oil remains in the 90s range... the higher the chance of an inflationary shock."
- President Donald Trump defended the blockade on social media, writing that "THE BLOCKADE, which we will not take off until there is a 'DEAL', is absolutely destroying Iran," claiming the country was losing $500m a day.
- Trading group XTB research director Kathleen Brooks noted "optimism within the market that the US/Iran ceasefire will be extended," despite investors' reluctance to price in a worst-case scenario for the Middle East conflict.
16 Articles
16 Articles
Asian forex muted amid uncertainty over U.S.-Iran talks
Broader Asian currencies were flat as markets sought more cues on U.S.-Iran peace talks, especially before the expiry of a tenuous ceasefire on Wednesday Most Asian currencies moved in a tight range on Tuesday as uncertainty over more U.S.-Iran peace talks, before the expiration of a ceasefire this week, kept traders to the sidelines. The yen weakened slightly amid growing conviction that the Bank of Japan will not hike interest rates next week,…
Oil Prices Ease to $94 as US-Iran Talks Offer Hope but Hormuz Risks Linger
World oil prices slipped modestly Tuesday amid tentative optimism over U.S.-Iran diplomatic efforts, with Brent crude hovering near $94.70 per barrel as traders weighed mixed signals from the Middle East against lingering threats to global energy supplies.
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