Deutsche Bank: Oil Falls Below $100 as US-Iran De-Escalation Hopes Improve
Markets finished broadly unchanged despite volatile Middle East headlines, with the S&P 500 flat and the US 10-year yield edging higher. Brent fell 1.1% to close below $100 a barrel for the first time in more than two weeks after reports suggested the gap between the US and Iran may be narrowing. Iran indicated it could reopen the Strait of Hormuz within seven days if the US lifts its naval blockade, releases frozen Iranian assets and ends the war across all “resistance” fronts, while talks between US and Iranian officials were described by Trump as “very productive.” Saudi Arabia also moved toward a partial restart of its East-West pipeline. Equities were steadier, with the Nasdaq rising to another record high and semiconductor stocks extending their rally for a sixth straight session. Trump also used his UN speech to speak positively about AI and reject efforts to control it. Financials underperformed, however, on concerns that AI could erode industry margins and fees.
Markets finished broadly unchanged despite volatile Middle East headlines, with the S&P 500 flat and the US 10-year yield edging higher. 1% to close below $100 a barrel for the first time in more than two weeks after reports suggested the gap between the US and Iran may be narrowing. ” Saudi Arabia also moved toward a partial restart of its East-West pipeline. Equities were steadier, with the Nasdaq rising to another record high and semiconductor stocks extending their rally for a sixth straight session.
Trump also used his UN speech to speak positively about AI and reject efforts to control it. Financials underperformed, however, on concerns that AI could erode industry margins and fees.