New York/Washington: Global oil markets recorded a significant downturn after the US president announced progress in talks with Iran and indicated developments related to the reopening of the Strait of Hormuz, boosting investor confidence across international markets.
Following the announcement, Brent crude prices slipped to around $88 per barrel, according to international media reports.
Market analysts said that easing geopolitical tensions in the Middle East and expectations of improved supply security helped reduce concerns among investors, leading to a decline in oil prices.
Experts further noted that a sustained drop in crude oil rates could eventually ease fuel costs worldwide and help slow inflation, providing some relief to the global economy.
In parallel, stock markets in New York, London, and several Asian financial hubs responded positively, with major indices closing higher amid improved sentiment.
Shares of global companies also saw gains as investors anticipated smoother shipping operations and more stable international trade routes.
US President Donald Trump stated that ensuring safe passage for vessels from neutral and affected nations remains a key priority. In a social media post, he added that American representatives were engaged in what he described as “highly positive” discussions with Iran, which could contribute to regional peace and stability.
