Oil Prices Recede and Stocks Gain as Investors Eye Peace Talks
The New York Times • • general
Key Points:
- Investors and analysts remain concerned about ongoing disruptions in the Strait of Hormuz, a critical shipping route that handles up to 20% of the world’s oil supply.
- Asian stock markets saw gains, with South Korea’s Kospi and Taiwan’s Taiex rising about 2%, and Japan’s Nikkei 225 increasing over 1%, while Hong Kong and mainland China markets edged up slightly.
- European stocks showed modest movement, with the Stoxx 600 rising 0.5%, and the FTSE 100 and Germany’s DAX gaining less than 0.5%.
- U.S. gas prices dropped to a national average of $4.02 per gallon, down from $4.17 earlier in April, but remain about 35% higher than before the onset of the war.
