Oil Prices Plunge, Stocks Rally Worldwide
Brent crude dropped 4.8% as investors bet the accord could ease inflation and lift airlines, technology stocks and other risk assets.
- The United States and Iran announced an agreement on Monday to reopen the Strait of Hormuz, aiming to end a conflict that has rattled energy markets and fuelled inflation worldwide.
- Investor sentiment improved significantly after Brent Oil prices dropped 4.8% to $83.14 a barrel, a steep decline from levels above $100 recorded only weeks ago.
- On Wall Street, the Dow Jones Industrial Average gained more than 700 points, or 1.4%, while the Nasdaq Composite jumped 3% as Technology stocks rallied strongly.
- Shares of companies exposed to fuel costs surged, with United Airlines rising 4.7%, American Airlines gaining 3.3%, and Carnival advancing 3.6%, while Bond markets reflected optimism as Treasury yields edged lower.
- Japan's Nikkei surged 5% to a record high, while Iran confirmed implementation of the agreement depends on formal signing in Switzerland on Friday.
38 Articles
38 Articles
Oil price volatility still expected after Monday tumble in wake of tentative deal between U.S., Iran
Oil prices eased on Monday after U.S. and Iranian officials said they agreed to the framework of a peace deal. But experts are still skeptical of when prices will drop even further to the levels seen in February, and note volatility could still be seen until a deal is officially announced.
Oil prices plunge, stocks rally worldwide
Oil prices fell sharply, while global stock markets surged on Monday after the United States and Iran announced an agreement to reopen the Strait of Hormuz, raising hopes of a lasting end to a conflict that has rattled energy markets and fuelled inflation worldwide. The world markets welcomed the prospect of reduced geopolitical tensions despite lingering uncertainty. Investor sentiment particularly improved significantly after Brent crude oil p…
Global crude oil prices fell another 4.8% to near $80 per barrel after the United States and Iran reached a new agreement, which helped boost stock markets worldwide.
Price of oil plummets after U.S.-Iran peace deal announced * WorldNetDaily * by Benedict Segrest, Daily Caller News Foundation
Source link Oil prices dropped to their lowest point since March on Monday after President Donald Trump announced a tentative U.S.-Iran peace deal. Brent crude dipped to $83 per barrel on Monday after markets opened, having previously sat above $90 a barrel for nearly the entire Iran War. Prices remain well above the pre-Operation Epic
Oil Plummets After Tentative US-Iran Peace Deal Announced
by Benedict Segrest at CDN - Oil prices dropped to their lowest point since March on Monday after President Donald Trump announced a tentative US-Iran peace deal. Brent crude dipped to $83 per barrel on Monday after markets opened, having previously sat above $90 a barrel for nearly the entire Iran War. Prices remain well above the pre-Operation Epic Fury rate … Click to read the rest HERE-> Oil Plummets After Tentative US-Iran Peace Deal Announ…
Petrobras gives in more than 5% with oil down and weighs on the index, amidst the rotation of investors for tech shares in the USA
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