Tentative Deal on Ending the Iran War Sends Stocks Soaring While Oil Prices Fall
Asian shares jumped as oil sank more than 4%, with traders betting the Strait of Hormuz deal will ease inflation pressure and support risk assets.
- On Sunday, President Donald Trump announced a ceasefire deal with Iran, authorizing the reopening of the Strait of Hormuz and the immediate removal of the U.S. naval blockade on Iranian ports.
- Markets had been roiled by geopolitical risk since February, and the agreement provides relief to the global economy after nearly four months of conflict.
- The Nikkei 225 surged 4.5 percent and the Kospi jumped 5.7 percent on Monday, while international benchmark Brent crude fell $3.45 to $83.88 per barrel in early trading.
- Analyst Josh Gilbert cautioned that "the deal isn't actually signed until June 19th," with Pakistan stating the signing would be held in Switzerland.
- Broader negotiations on Iran's nuclear program are expected to continue over the next 60 days, while experts suggest oil flows must recover to around 60% of pre-war levels to restore a supply surplus.
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365 Articles
British Pound rises as US-Iran accord sends Oil plunging
The Pound Sterling (GBP) advances by 0.31% on Monday as risk appetite improves following an agreement reached between the US and Iran, which is expected to be signed on Friday in Geneva, Switzerland. Both parties announced the deal, a headwind for the US Dollar (USD), which has fared well amid geopolitical uncertainty and inflationary scenarios. At the time of writing, the GBP/USD pair trades at 1.3436. GBP/USD gains as peace breakthrough pressu…
Oil plunges, stocks jump on US-Iran peace deal
Oil prices dropped towards $80 a barrel, and stocks rallied on Monday after Washington and Iran reached a framework deal to end the Middle East war and reopen the Strait of Hormuz, sending a wave of relief through global markets.The strait, through which roughly 20 per cent of the world's crude oil supply normally transits,...
The Toronto Star
S&P/TSX composite up more than 300 points, oil down after news of U.S.-Iran deal
TORONTO - Canada's main stock index gained more than 300 points and oil prices fell in late-morning trading after the U.S. and Iran reached an initial agreement that would extend
Crude oil prices drop to three-month low after Trump announces Iran deal
Crude oil prices fell to a three-month low Monday after President Donald Trump announced that the United States and Iran had reached a deal, which resumed tanker traffic through the Strait of Hormuz. Benchmark crude fell nearly 5% to around $83 per barrel, while U.S. West Texas Intermediate crude dropped below $81 per barrel for the first time since March. The sharp decline came after Trump said a preliminary agreement had been reached with Ir…
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