U.S. markets inch back, oil prices rise as Iran war continues despite Trump’s claims of progress
BNN Bloomberg
U.S. markets ticked slightly lower and oil prices rose early Tuesday as the war in the Middle East continued a day after U.S. President Donald Trump said the United States had made progress in talks with the Islamic Republic to end the conflict.
Futures for the Dow Jones Industrial Average and S&P 500 each fell 0.1 per cent before the opening bell, while Nasdaq futures were unchanged.
Airstrikes battered Iran’s capital and Iranian missiles and drones targeted Israel’s Tel Aviv and sites across the Mideast on Tuesday.
With thousands more U.S. Marines on their way to the Gulf, both sides firing intense barrages and Iran denying any negotiations are taking place, the war’s tempo remained high a day after Trump delayed his self-imposed deadline for Iran to reopen the Strait of Hormuz. Tehran’s chokehold on that crucial waterway has snarled international shipping, sent fuel prices skyrocketing, and threatened the world economy.
On Monday, markets rebounded and oil prices fell 10 per cent after Trump posted on social media that the U.S. and Iran held productive talks “regarding a complete and total resolution of our hostilities in the Middle East” over the last two days.
Iran denied such talks took place and Iranian parliament speaker Mohammad Bagher Qalibaf said that “fakenews is used to manipulate the financial and oil markets” in a post on X.
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Relief is ripping through financial markets after U.S. President Donald Trump said the United States has talked with Iran about a possible end to their war, despite Iran’s denials.
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Global oil prices will continue to rise as the war in the Middle East continues and the Strait of Hormuz remains inaccessible, according to an energy expert.
Canada’s federally backed farm lender is offering financial aid to farmers, agricultural businesses and food companies hit by the spike in fertilizer and energy prices, it said on Friday.
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Another climb for oil prices sent the U.S. stock market sharply lower, as hopes collapsed for a possible cut to interest rates by the Federal Reserve.
Global oil prices will continue to rise as the war in the Middle East continues and the Strait of Hormuz remains inaccessible, according to an energy expert.
Global oil prices will continue to rise as the war in the Middle East continues and the Strait of Hormuz remains inaccessible, according to an energy expert.
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