Oil prices drop and stock markets rise after reports of deal to end Iran war
Global stock markets jumped on reports of progress toward a US-Iran peace deal after days of escalation. Oil prices fell as investors expressed relief at signs the Middle East tensions could ease.
Optimistic reports on peace talks triggered a strong rally in Wall Street and global markets. The S&P 500, Nasdaq, and other indices closed higher, with technology and energy stocks leading. Oil prices fell over $5 per barrel for Brent crude. Investors believe a US-Iran agreement could ease Strait of Hormuz tensions and stabilize global energy prices. As longer-term risk recedes, risk appetite returns to markets. Stocks moved higher, particularly in the financial sector. Despite expectations around Fed decisions and Trump administration tariff moves, peace hopes dominated near-term market direction. However, experts warn that without a formal deal, oil prices may remain elevated.
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