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Oil Prices Rebound as as Traders Reassess Iran Deal
European stocks gained led by FTSE 100 as UK inflation eased and oil prices rose over 2% amid cautious US-Iran nuclear talks, with markets awaiting Federal Reserve minutes.
- On Wednesday, European stock markets rose as traders assessed earnings and economic data, with London's FTSE 100 climbing more than one percent after UK inflation eased.
- Results from BAE Systems and Glencore supported markets, with BAE's profit rise and Glencore returning to profit last year, as US industrial production increased.
- Traders pushed crude higher amid US‑Iran talks, with Brent crude at $67.59 and WTI at $62.49 after Tuesday's declines.
- The euro dipped after a Financial Times report about Lagarde's potential departure, while an ECB spokesperson said she had made no decision; sterling weakened on expectations of a Bank of England rate cut.
- Analysts flagged rising military risk as Eurasia Group estimated a 65% chance of a US strike by April, while Iran's partial closure of the Strait of Hormuz raised supply-risk concerns.
22 Articles
22 Articles
Daily Journal
European stocks rise tracking company earnings, data
European stock markets rose Wednesday as traders assessed company earnings and economic data, while oil prices ticked higher following US-Iran talks.
Oil Prices Rebound as as Traders Reassess Iran Deal
Crude oil prices reversed much of the losses they suffered on Tuesday as traders sold, expecting a deal between Iran and the United States. Hours later, the wind of trader opinion has changed direction, and now doubts rule the market. Brent crude was trading at $67.59 per barrel, with West Texas Intermediate at $62.49 per barrel, both up after they shed some 2% on Tuesday, falling to the lowest in two weeks. The recovery was also partially a rea…
Crude oil prices recovered much of their losses on Tuesday, when traders sold off their hopes for a deal between Iran and the United States. A few hours later, traders’ sentiment was no longer optimistic, and doubts now dominate the market. Brent crude was trading at $67.59 a barrel on Wednesday morning, while […] The article Oil prices resume their rise as market sentiment turns pessimistic about a possible deal between the US and Iran first ap…
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