Brent slides 7.3% to $81.55 as Trump flags US-Iran talks and investors price in Hormuz deal
AI Market Summary
Oil sold off sharply after Trump signaled renewed US-Iran talks and canceled a planned strike, easing fears of Strait of Hormuz disruption and adding to pressure from a modest OPEC+ quota increase. Lower crude reduced near-term inflation angst, supporting US equity-index futures and Treasuries, while Asia equities lagged. Gold firmed as the market repriced risk and macro sensitivity; crypto was largely unchanged.
Impact level
● High
Affected assets
NCCO1OILBRENT2USD/USDT-0.39%
AI Insight · NCCO1OILBRENT2USD/USDTAI Insight
● Neutral
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Oil fell after President Donald Trump said new US-Iran talks would begin Monday, lifting hopes of a deal tied to reopening the Strait of Hormuz. Brent for October sank 7.3% to $81.55 a barrel, while S&P 500 and Nasdaq 100 futures rose 0.3% and 0.5%. MSCI’s gauge of Asian equities dropped 1% and South Korea’s Kospi slid more than 4%, while gold climbed to around $4,080 an ounce as oil’s decline eased inflation worries.
