US EditionCeasefire Impact Holds Across Markets Despite Varying Reports on the Strait of Hormuz
Oil prices fell $15 a barrel as traders welcomed the ceasefire, while the S&P 500, Dow and Nasdaq all climbed more than 2%.
- On Tuesday, President Donald Trump announced a Pakistan-brokered two-week ceasefire with Iran, triggering a relief rally in equity markets and sharp declines in West Texas Intermediate oil prices on Wednesday.
- Global oil markets faced near unprecedented volatility due to Operation Epic Fury and closure of the Strait of Hormuz, through which about 20% of the world's oil flows.
- Oil prices dropped from $110 to $95 Wednesday morning, remaining below $97, while the Dow Jones Industrial Average and Nasdaq surged 2.85% and 2.82% higher than Tuesday.
- White House Press Secretary Karoline Leavitt reported increased traffic in the Strait on Wednesday, though fighting between Israel and Hezbollah persists in Lebanon, complicating ceasefire scope.
- Mark Cancian, senior adviser for the Center for Strategic and International Studies Defense and Security Department, warned that reopening the Strait requires minesweeping, unrestricted passage, and cessation of tolls.
20 Articles
20 Articles
Markets react to fragile Iran ceasefire amid confusion over Strait of Hormuz
Ships trying to get through the Strait of Hormuz have been told by Iran that it is not open, as state media said the vital waterway has been closed in response to Israeli attacks in Lebanon.
Ceasefire! What Might This Mean for the Strait, the Markets, and You
As I suspect you’ve heard, a two-week ceasefire appears to be in place in the war with Iran. That is unequivocally good news, though no one paying attention can breath anything like a sigh of relief, despite the relief rally going on this morning in equity markets, with West Texas Intermediate oil down ~$20 as I write this (which will have moved by the time you read this).There are more questions than answers and for the (scant) details as we kn…
The US believes Iran is responsible for opening up shipping traffic. Iran believes the US cannot have both a ceasefire and continue its attacks in Lebanon.
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