Asian markets, led by South Korea’s Kospi, bounced back on Tuesday, following a 10% plunge in oil prices after US President Donald Trump hinted towards a likely end to the Iran war. Trump’s comments led to a drop in International Brent crude, which fell to $89.03 per barrel and US crude oil, which fell by over 9% to $86.05 per barrel. Trump’s statement about considering control over the strategic Strait of Hormuz, a significant chokepoint for the crude market, and his suggestion that the war is “very complete” have led to a market rebound. The decline in rising oil prices, following their surge past $100, has spurred a positive market response globally.
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- Relief Rally Lifts Stocks as Dollar Extends Losses: Markets Wrap
- Wall Street Traders Hunt for Bottom as War Turmoil Continues
- US Stock Futures Fluctuate as Brent Hits $90 Again: Markets Wrap
- Wall St ends higher as hopes of Iran war resolution offset inflation fears
- This ‘uncanny’ S&P 500 chart suggests a bubble is bursting — and not just because of Iran”
- Trading Day: Wall Street roars back on war resolution hopes
- US stocks dip, oil pulls back as Wall Street weighs conflicting messages on Iran
- The 24 Hours When Oil Markets Went Wild
- Wall St set for subdued open as investors assess inflation data; IEA announcement awaited
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Asia markets rebound as oil plunges after Trump signals Iran war might end ‘soon’
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