Donald Trump’s statement boosts global markets, hopes of easing West Asia tensions
RNE Network.
Global markets traded higher on Tuesday while oil prices declined, amid hopes for a possible deal to end tensions in West Asia and reopen the Strait of Hormuz.
Donald Trump said Tehran had reached out to seek an agreement, even as a US naval blockade around Iran’s ports began. Following the announcement, all three major indexes in New York closed firmly in positive territory, while oil prices erased earlier gains.
The optimistic sentiment extended to Asian markets, with Tokyo and Seoul leading gains, driven by renewed buying in technology stocks amid continued interest in the AI sector. Markets in Hong Kong, Shanghai, Sydney, Singapore and Wellington also recorded gains.
Meanwhile, both key crude benchmarks declined, remaining below $100 per barrel, with West Texas Intermediate falling around two percent and Brent crude down about 1.5 percent.
