Oil prices fall as investors hope for US-Iran peace deal
Oil prices dropped while global stocks climbed as hopes grew for a deal to end the US-Iran conflict and reopen the Strait of Hormuz. Donald Trump and Iranian officials exchanged accusations over violations of a fragile truce and the ongoing blockade. Despite uncertainty from Tehran about attending peace talks, investors remained optimistic about a potential agreement. Asian markets, especially Seoul, led gains as traders watched for signs of easing tensions.
What we know
- Oil prices fell as hopes lingered for a US-Iran peace deal and the reopening of the Strait of Hormuz.
- Donald Trump insisted the US blockade would remain until an agreement is reached, claiming Iran is losing $500 million daily.
- Tehran accused Washington of violating the truce and expressed reluctance to negotiate under threats.
- Asian stock markets surged, with Seoul hitting a record high and other major markets advancing.
- Japanese arms firms rallied after Tokyo announced it would ease export rules on lethal weapons.
