Oil prices rise for the third consecutive day amid the halt of negotiations between the US and Iran
Global oil prices are rising for the third consecutive day amid new hostilities in the Persian Gulf and the halt of peace talks between the US and Iran. At the same time, investors are closely monitoring US economic indicators that could influence the Federal Reserve's future policy, writes Reuters.
Brent crude oil futures rose by 1% to $94.74 per barrel. The dollar reached 160 yen before pausing, as traders began to fear possible intervention by Japanese authorities in the currency market.
S&P 500 futures remained unchanged, while European futures lost 0.1%. Meanwhile, the artificial intelligence boom continued to support Asian markets: stock indices in Taiwan and Japan reached record highs. South Korean exchanges were closed.
US military reported that Iranian missile strikes on Bahrain, Kuwait, and other regional targets were either repelled or failed to hit their targets, while diplomatic efforts between Washington and Tehran have made virtually no progress.
Last week, Iran and the US announced a preliminary agreement to end the war, but the final deal has yet to be signed by the parties.
"Last week, markets were convinced that the parties were approaching some memorandum of understanding. Now the situation looks more unstable," said Chris Weston, head of research at brokerage firm Pepperstone.
According to him, this indicates that the parties are returning to negotiations with lower chances of quickly reaching agreements, and investors are gradually abandoning previous optimistic bets.
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