Oil prices are falling, stock markets are at their highest level since March. Markets are waiting for the US-Iran agreement
Donald Trump said Saturday that Washington and Iran had “largely negotiated” an agreement. On Monday, stock markets ignored the comment of the Iranian Foreign Ministry spokesman, who said that although many issues had been agreed, it did not mean that Tehran was close to signing a peace agreement.
Iranian Foreign Ministry spokesman Esmail Baqai's statement came after US Secretary of State Marco Rubio said an agreement could be reached on Monday.
See also: The oil market in Asia has reached the bottom. “Europe thinks there is no problem”
According to US officials cited by CNN, disputes over Iran's nuclear program and the lifting of sanctions have delayed the finalization of an agreement to end the war, although there is optimism that these differences will be resolved soon.
The presence of an Iranian delegation in Qatar on Monday — including high-ranking members of Tehran's negotiating team — was a positive sign, one U.S. official said, citing Qatar's mediation skills.
Oil price
The price of Brent crude oil futures contracts falls by 7 percent on Monday. up to $96 per barrel. In turn, WTI crude oil is cheaper by 6%. and is valued at $90. per barrel.
Stock exchange increases
Investors have often received conflicting signals from Washington and Tehran since a fragile ceasefire took effect in April.
Global stock markets ignored war concerns and instead focused on artificial intelligence issues and a strong earnings season that pushed stock prices to record highs for the year.
Indices in Europe recorded significant increases on Monday, reaching the highest level since the beginning of March.
At the close of the session, the Euro Stoxx 50 index increased by 1.95%, the German DAX increased by 2.01%, the French CAC 40 increased by 1.76%. The benchmark Stoxx Europe 600 index increased by 1.04%.
In the US, stock markets are closed for Memorial Day.
Strait of Hormuz
The nearly three-month-long conflict in the Middle East has sent energy prices soaring and changed the outlook for global interest rates as inflation concerns intensify following Tehran's closure of the Strait of Hormuz.
Despite continuing uncertainty, ship traffic monitoring data indicate a gradual easing of disruptions in the region. Three liquefied natural gas tankers recently passed through the Strait of Hormuz en route to Pakistan, China and India.
Source: CNN, BBC, CNBC
