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Oil Prices Sink More than 2% as Trump Remarks Calm Concern About Iran
- On Wednesday, US President Donald Trump said killings in Iran were subsiding and he would "watch it and see" on intervention, sending Brent, Nymex and gold lower.
- Investor rotation out of tech names extended a selloff, while Minister Sanae Takaichi plans to dissolve parliament next week, fueling yen weakness and higher longer-dated Japanese government bond yields.
- On Thursday, the tech-heavy Nikkei eased 0.9 percent after an all-time peak while the broader Topix rose 0.4 percent; Taiwan's TAIEX and Hong Kong's Hang Seng slipped as South Korea's KOSPI gained 0.3 percent.
- Yen volatility prompted verbal intervention warnings from Finance Minister Satsuki Katayama as Japan's 20-year yield eased two basis points to 3.14 percent after vaulting to 3.165 percent.
- S&P 500 E-mini futures were down 0.1 percent and the Nasdaq Composite dropped 1.0 percent amid rotation, while the Bank of Korea left rates unchanged and the South Korean won gained one percent after Bessent's comments.
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Why does Iran unrest trigger oil price swings?
Political instability in Iran, a major oil producer, together with U.S. President Donald Trump’s recent threats against the country have reignited fears of disruptions to crude supplies, sparking price volatility on global markets.
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Coverage Details
Total News Sources118
Leaning Left16Leaning Right17Center23Last UpdatedBias Distribution41% Center
Bias Distribution
- 41% of the sources are Center
41% Center
L 29%
C 41%
R 30%
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