The future direction of the oil price will be dependent on the progression of the talks between Iran and the US. For the Strait of Hormuz to operate effectively, insurers and shipping operators need to be comfortable that that risk of ships passing through the Strait has decreased. Over 800 tankers are currently stuck in the Strait, we need to see movement of these in the coming days for the drop in the oil price to be sustained.
While there are reasons to be cautious, the market moves have been stunning so far this morning: European stocks are surging. The Eurostoxx index is up 5%, the FTSE 100 is higher by 3%, but it is being held back by the oil majors, as they struggle to gain momentum due to the sharp drop in the oil price.
Join Kathleen to find out how US stocks are performing and what the last-minute agreement between Iran and the US means for your portfolio.
Key Reactions to Trump’s Ceasefire
The mighty reversal
Euphoria enters stock market amid ceasefire in the Middle East 📈US100 surges 3%
Economic calendar: macro data in the shadow of TACO 🔎
This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.
