Latest Corporate News
Oil Prices Surge Above $97 on Fragile US-Iran Ceasefire Skepticism
Oil prices rose sharply Thursday, with Brent crude up 2.4% to $97.02 and US crude 3.3% higher at $97.50 per barrel, reversing earlier drops on ceasefire optimism. Investors doubt the two-week US-Iran truce after Israeli strikes on Lebanon prompted Iran to close the Strait of Hormuz again.
Asian Stocks Retreat as Markets Monitor Iran Strait Closure
Tokyo’s Nikkei 225 fell 0.9% to 55,824.30, South Korea’s Kospi dropped 1.6% to 5,776.03, and Hong Kong’s Hang Seng declined 0.4% to 25,801.87 amid energy supply fears. Shanghai Composite lost 0.7% to 3,965.70, while Australia’s S&P/ASX 200 edged down 0.1%.
European Markets Slide on Geopolitical Tensions
Britain’s FTSE 100 fell 0.3% to 10,572.73, France’s CAC 40 dropped 0.8% to 8,198.77, and Germany’s DAX lost 1.3% to 23,771.68 in early trading. US futures were down over 0.4%, reflecting ongoing uncertainties.
Wall Street Rallies on Initial Ceasefire Hopes
The S&P 500 jumped 2.5% to 6,782.81, Dow rose 2.9% to 47,909.92, and Nasdaq climbed 2.8% to 22,635.00 Wednesday after Trump’s ceasefire announcement. Airlines surged: United Airlines up 7.9%, American Airlines 5.6%.
Iran Closes Strait of Hormuz in Response to Israeli Strikes
Iran shut the key oil chokepoint Strait of Hormuz following deadly Israeli strikes on Lebanon that killed and injured hundreds, heightening global energy supply risks. The US demanded reopening, but closure persists despite ceasefire.
Cruise Operator Carnival Shares Jump 11.2% on De-escalation Hopes
Carnival stock rose 11.2% Wednesday, trimming losses from Iran war fuel cost concerns, amid temporary ceasefire optimism. Travel sector rebounds as de-escalation prospects ease pressures.
Gold and Silver Prices Decline Amid Mixed Market Signals
Gold fell 0.6% to $4,750.20 per ounce, and silver dropped 1.7% to $74.08 as investors shifted from safe-havens post-ceasefire news. Precious metals retreat after earlier gains on conflict fears.
India's Sensex Drops 1.6% on Oil Price Volatility
India's Sensex index fell 1.6% amid rising oil prices and regional tensions from the Iran ceasefire fragility. Energy import-dependent markets face heightened pressures.
Taiwan and Australia Markets Mixed as Oil Climbs
Taiwan’s Taiex rose 0.3%, while Australia’s S&P/ASX 200 edged up 0.2% to 8,973.20 despite broader Asian declines. Selective gains occur amid global sell-off.
Global Energy Supply Fears Persist Despite Temporary Ceasefire
A fifth of world oil passes through the now-closed Strait of Hormuz, fueling supply disruption worries even as ceasefire holds tenuously. Markets volatile on two-week truce slipping signs.