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Global markets moved higher on Wednesday as oil prices pulled back, with investors reacting to indications that tensions in the Middle East could ease after weeks of conflict.
Brent crude traded at $100 per barrel, while U.S. benchmark WTI stood at $89, both retreating from recent highs.
The drop in energy prices helped lift sentiment across equities and commodities, as concerns over rising inflation pressures softened.
Stock markets across Asia closed in positive territory. Japan’s Nikkei 225 jumped 2.87% to 53,749.62, while South Korea’s KOSPI rose 1.59% to 5,642.21. Hong Kong’s Hang Seng edged up 0.3%, and China’s Shanghai Composite gained 1%.
Futures tied to the three main U.S. indexes increased by around 0.5%, while Europe’s Stoxx 50 index advanced 1%. In Türkiye, the benchmark BIST 100 index kicked off the session 0.8% higher at 13,029.32 points.
Precious metals also moved higher alongside equities. Gold rose 1.6% to $4,550 per ounce, while silver gained 2.6% to $73.1. Palladium increased 1.3% to $1,424, and platinum climbed 1.4% to $1,932.
Cryptocurrencies followed the upward trend. Bitcoin rose 1% to $71,164, and Ethereum increased 1.4% to $2,171. The total market capitalization of digital assets expanded by 1.2% to $2.4 trillion.
Investor sentiment improved on U.S. President Donald Trump's remarks about a possible breakthrough between Washington and Tehran after nearly four weeks of conflict.
Trump said officials were "in negotiations right now" with Iran, though Iran has not confirmed any talks.
Iran signaled a shift by indicating it would allow safe passage for "non-hostile vessels" through the strait, according to a message shared via the International Maritime Organization.
Reports suggested that U.S. officials had sent a 15-point proposal to Iran through Pakistan, outlining steps toward de-escalation.
Separate reports indicated that the plan could include a one-month ceasefire, discussions over Iran’s enriched uranium, and guarantees for maritime security.
In return, Iran could see sanctions lifted and receive support for civilian nuclear energy development, according to the reports.
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