Asian markets rallied following a steep decrease in oil prices and a resurgence on Wall Street as a result of US President Donald Trump signalling that the conflict with Iran may be nearing its end. Crude oil prices dropped by over 10% after Trump mentioned the possibility of taking control of the Strait of Hormuz, a key point in the global crude market. This comes just after oil prices surged past $100. South Korea’s Kospi led the rebound, closing at a 5% increase.
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- Relief Rally Lifts Stocks as Dollar Extends Losses: Markets Wrap
- Wall Street Traders Hunt for Bottom as War Turmoil Continues
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- 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’