US EditionStocks Rise on Ceasefire Relief, Oil Gains as Truce Is Tested
Investors remain uncertain as the Strait of Hormuz stays blocked and attacks continue, despite President Trump extending a ceasefire to allow more time for peace talks.
- On Wednesday, President Donald Trump announced an extension of the ceasefire with Iran to allow more time for peace talks. Brent North Sea crude climbed above $100 a barrel, while West Texas Intermediate traded back above $90.
- Iranian gunboats attacked at least one container ship in the Strait of Hormuz on Wednesday, maritime agencies reported. The seven-week blockade has driven global inflation to 3.3 percent as energy supplies remain disrupted.
- "Shipments from the Middle East are in limbo and a resolution to the conflict remains elusive," said Susannah Streeter, chief investment strategist at Wealth Club. The energy squeeze threatens global economic growth despite the ceasefire extension.
- Investors balance war concerns with Senate confirmation hearings for Kevin Warsh, Trump's pick to replace Federal Reserve boss Jerome Powell. Wall Street indexes reached record highs following corporate earnings, though European markets eased amid uncertainty.
- "There is the inescapable view that, with the US and Iran not looking likely to start talking, a resumption of hostilities is a distinct possibility," said market analyst Chris Beauchamp. Traders await clarity on peace negotiations as uncertainty persists.
42 Articles
42 Articles
Global stocks rise on ceasefire hopes as oil jumps on Hormuz tensions
New York: Wall Street stocks advanced on Wednesday after U.S. President Donald Trump unilaterally extended a ceasefire in the Iran war, while oil prices resumed their upward climb after Iran tested the fragile truce by seizing cargo ships in the Strait of Hormuz.All three major U.S. stock indexes ended higher, with technology shares pushing the Nasdaq to the forefront. Gold rebounded from a one-week low, while the dollar edged higher.“Despite th…
US President Donald Trump on Tuesday extended a two-week ceasefire with Iran
Precious metal with delivery scheduled for June closed at 0.71%, to US$ 4,753.0 per ounce-troy
Oil prices rise on uncertain prospects for US-Iran ceasefire
Oil prices climbed Wednesday while stocks were mixed after US President Donald Trump announced the extension of a ceasefire with Iran, prompting investors to wait and see if peace talks would resume.
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