Oil and the dollar fall on hopes for peace in Iran, while U.S. tech stocks rise
Hopes for peace talks involving Iran shook markets. U.S. tech stocks rose, while WTI crude prices fell. ECB Executive Board member Schnabel said a6 rate hike was necessary.
Hopes for peace talks involving Iran had an immediate impact on global markets. U.S. tech stocks broadly advanced, leading gains in major indexes. WTI benchmark oil prices declined.
Gold prices rose amid hopes for peace in the Middle East. The U.S. dollar was stable in some periods. Financial markets saw movements in the dollar and oil prices at the same time.
ECB Executive Board member Schnabel said a6 rate hike was necessary. She said that even if a peace agreement with Iran were reached, interest-rate policy would need to be adjusted. Her remarks affected European financial markets.
Some reports said Iran would reopen the Strait of Hormuz following the signing of a peace agreement30 days later. The news was presented as a factor changing the outlook for crude oil supply. The possibility of changes to supply routes helped accelerate the decline in oil prices.
Europe’s Stoxx 600 index recouped its Iran-related losses. Expectations related to AI also contributed in part to the index’s rebound. Across markets, signs of easing geopolitical risks and strength in technology stocks were observed at the same time.
Sources: Reuters,Yahoo Finance
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