Oil falls, stocks climb as investors hope for progress in Iran war talks
Yahoo Finance • • business
Key Points:
- Oil prices declined on Thursday amid investor optimism about potential progress in Middle East peace talks, despite ongoing U.S.-Iran disagreements over uranium stockpiles and control of the Strait of Hormuz.
- U.S. crude settled down $1.91 at $96.35 per barrel, while Brent crude fell $2.44 to $102.58, reflecting easing concerns over energy supply disruptions.
- Major U.S. stock indexes rose, with the Dow Jones up 0.55%, the S&P 500 up 0.17%, and the Nasdaq up 0.09%, supported by positive sentiment around technology stocks and hopes for conflict resolution.
- IBM shares surged 12.4% following news of U.S. government funding for quantum computing ventures, including a new IBM initiative, signaling increased investment in advanced technology sectors.
- Turkey's stock market experienced a sharp decline and temporary trading halt after a top court annulled the main opposition party's 2023 congress, causing political uncertainty and impacting Turkish government bonds.