Interim US-Iran peace deal pulls oil to $78 a barrel, lifting airlines and chip stocks while Fed hawkishness weighs on Europe

An interim peace agreement between the US and Iran raised hopes that the Strait of Hormuz could reopen, sending oil prices back to around $78 a barrel. European airline stocks such as Lufthansa and Air France rose, while chipmakers including Infineon and Aixtron advanced, alongside broad strength in US semiconductor shares. Nvidia, Intel, Marvell and Micron were among the names that gained as easing Middle East tensions coincided with upbeat expectations for AI-chip demand. A hawkish message from the Federal Reserve pressured European equities, but did not displace oil and tech as the main drivers.