Global shares advance and oil prices slip as hopes grow for ending war with Iran - AP News
Global stock markets rallied and oil prices fell on Tuesday on growing hopes of a US-Iran peace deal.
According to AP News, after the Washington Post and Wall Street Journal reported progress in peace talks, Wall Street reacted positively. Dow futures surged 500 points and Nasdaq futures rose over 1 percent.
International oil prices dropped approximately 6 percent, with both Brent and WTI crude futures falling sharply. Oil prices that had spiked on Iran tensions quickly reversed on peace expectations.
China has played a key mediating role. Foreign Minister Wang Yi met with Iranian FM Aragchi in Beijing, calling for the Strait of Hormuz to reopen for navigation as soon as possible.
Source: Google News