World shares mixed and oil falls on ceasefire hopes
AP News • • general
Key Points:
- Global stock markets showed mixed performance, with European indices mostly up, Asian markets largely down, and U.S. markets hitting record highs, as investors monitored U.S.-Iran talks and the potential extension of the Iran war ceasefire.
- Oil prices dropped significantly, with Brent crude down 3.2% to $96.25 per barrel and U.S. crude down 3.6% to $87.86, amid growing optimism over a ceasefire extension despite ongoing energy supply concerns linked to the Iran conflict.
- The International Energy Agency warned that Europe has about six weeks of jet fuel supplies left, raising concerns about potential flight cancellations due to the energy disruptions caused by the Iran war and related blockades.
- Strong corporate earnings boosted some U.S. stocks, with PepsiCo shares rising 2.3% and J.B. Hunt Transport Services up 6.3%, contributing to gains in the S&P 500, Dow Jones, and Nasdaq indices.
- Currency markets saw minor movements, with the U.S. dollar slightly weakening against the Japanese yen and the euro strengthening marginally against the dollar.
