WS #8147
No material new developments in the last 30 minutes. The Iran deal narrative remains stable with conflicting signals, and no new data points have emerged to change the market outlook.
Key developments
- US and Iran reach preliminary agreement in principle to reopen Strait of Hormuz and dispose of enriched uranium
- Oil prices fall 5% as Brent drops to $98.12/bb, lowest in 2 weeks
- Equity futures rally on Hormuz de-escalation hopes; Nikkei futures +1.1%, S&P 500 +0.5%
- Russia-Ukraine conflict escalates: ballistic missile threat, drone attack, oil pumping station strike
- Blast in Quetta kills 24 and derails train