Global financial markets reacted positively after the United States and Iran agreed to a conditional two-week ceasefire, which includes reopening the strategic Strait of Hormuz. The development led to a sharp drop in oil prices and strong gains in stock markets worldwide.
Brent crude fell by around 13% to $94.80 per barrel, while US crude dropped more than 15% to $95.75. Despite this decline, prices remain above pre-conflict levels, when oil traded near $70 per barrel in late February.
Energy markets had been under pressure due to disruptions in Middle Eastern supply, particularly after Iran threatened to target vessels passing through the Strait of Hormuz in response to US and Israeli strikes.
Stock markets mirrored the improved sentiment. European indices opened higher, with London’s FTSE 100 rising by 2.53%, France’s CAC 40 gaining 4%, and Germany’s DAX climbing nearly 5%. In Asia, Japan’s Nikkei 225 increased by 5%, South Korea’s Kospi jumped close to 6%, while Hong Kong’s Hang Seng and Australia’s ASX 200 rose by 2.8% and 2.7% respectively. US stock futures also signaled a positive opening on Wall Street.
The ceasefire remains dependent on Iran halting hostilities and ensuring safe passage through the Strait of Hormuz. Iranian officials have indicated readiness to comply, provided that attacks on the country are stopped.
Analysts note that the agreement helps prevent a further surge in energy prices, which could have placed additional strain on the global economy. A prolonged escalation would likely have triggered significant economic disruption.
Shipping activity in the Strait of Hormuz is expected to gradually recover, offering short-term relief to global markets. However, a full return to normal energy production in the region remains uncertain due to damage to key infrastructure. Experts suggest recovery could take months or even years.
Strikes have affected critical facilities, including major gas infrastructure in Qatar, reducing export capacity. Repair costs across the region are estimated to exceed $25 billion.
Asia has been among the hardest-hit regions, given its heavy reliance on Gulf energy supplies. Several countries have already introduced emergency measures to manage rising fuel costs and supply shortages.
While the ceasefire provides temporary relief, analysts caution that a lasting stabilization of energy prices will depend on the success of ongoing negotiations and a durable peace agreement.
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