Newsletters
Oil prices remained elevated Wednesday despite slight declines in global benchmarks, with investors closely watching the growing diplomatic standoff between the United States and Iran.
Brent crude traded around $106.5 per barrel while U.S. benchmark West Texas Intermediate hovered near $100.9, both showing roughly a 1% daily decline by 6:15 a.m. GMT.
Financial markets across Asia mostly moved higher. South Korea’s Kospi jumped 2.6%, Japan’s Nikkei 225 gained 0.8%, and China’s Shanghai Composite rose 0.6%, while Hong Kong’s Hang Seng slipped 0.2%.
Gains were led by chipmaker shares after reports that Nvidia CEO Jensen Huang would accompany U.S. President Donald Trump on his China visit, raising expectations for a possible agreement with Beijing on chip sales that could expand demand.
European and U.S. futures also pointed upward, with Stoxx 50 futures rising 0.9% alongside gains in Nasdaq and S&P 500 futures.
Precious metals showed mixed movement. Gold and palladium edged lower to $4,700 and $2,110 per ounce respectively, while platinum climbed 0.4% to $1,500. Silver remained flat at $86.6 per ounce.
Cryptocurrency markets also weakened slightly, with bitcoin falling 0.1% to $81,000 and ethereum down 0.2% at $2,300.
Tensions around the Middle East conflict continued to shape energy markets after Iran’s chief negotiator warned Tuesday that Washington must accept Tehran’s latest peace proposal or risk collapse of negotiations.
The warning came after U.S. President Donald Trump cautioned that the regional truce was close to breaking down. Despite repeated threats from both sides to resume military action, neither Washington nor Tehran appeared ready to return to full-scale conflict.
Meanwhile, before departing for Beijing, Trump told reporters Tuesday that Iran would be a key topic during his upcoming two-day summit with Chinese President Xi Jinping.
"I don't think we need any help with Iran. We'll win it one way or the other. We'll win it peacefully or otherwise," Trump said.
Set as preferred source
Set as preferred source
1 min read
1 min read
