Oil prices turned downward, and U.S. stock markets recovered from earlier losses following media reports that Washington and Tehran are discussing a phased plan to reopen the Strait of Hormuz and lift the U.S. blockade. This news triggered a sudden shift in market sentiment, sharply reversing the previous trading trends for crude oil and stocks. Just a few hours earlier, oil prices had risen sharply following new reports of attacks by Yemeni Houthis on Saudi military facilities in Jazan. However, the prospect of a diplomatic agreement regarding the strategic sea route eased supply concerns and brought relief to investors on Wall Street.
However, this information has not yet been confirmed through official channels.
Source: XTB
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