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Nahar Net
6 hours ago
- Business
- Nahar Net
Shares and oil prices gain as world waits to see if US will join Iran war
by Naharnet Newsdesk 20 June 2025, 15:10 World shares are mostly higher and crude oil prices have rebounded as investors wait to see if the U.S. will join Israel's war against Iran. Britain's FTSE 100 was 0.4% higher at 8,829.82 and the CAC-40 in Paris gained 0.6% to 7,595.06. Germany's DAX rose 0.9% at 23,256.98. U.S. futures edged lower after Wall Street was closed on Thursday for the Juneteenth holiday, with contracts for the S&P 500 and the Dow Jones Industrial Average down 0.2%. U.S. benchmark crude oil gained 52 cents to $75.66 per barrel, while Brent crude, the international standard added 31 cents to $77.01 per barrel. Oil prices have been gyrating as fears rise and ebb that the conflict between Israel and Iran could disrupt the global flow of crude. Iran is a major producer of oil and also sits on the narrow Strait of Hormuz, through which much of the world's crude passes. Investors remained wary after the White House said President Donald Trump could decide on whether to launch an attack on Israel within the next two weeks, but that he "still believes diplomacy is an option," said Anderson Alves, a trader at ActivTrades. "The stock market's risk premium isn't just rising — it's recalibrating for a world where every macro lever now doubles as a tripwire," Stephen Innes of SPI Asset Management said in a commentary, adding that traders are bracing for what comes next. "A delayed fuse is still a fuse," he said. Trump's tariffs agenda may have been eclipsed by the conflict in the Middle East, but it remains another major factor weighing on markets. Tokyo's Nikkei 225 index edged 0.2% lower to 38,403.23 after Japan reported that its core inflation rate, excluding volatile food prices, rose to 3.7% in May, adding to challenges for Prime Minister Shigeru Ishiba's government and the central bank. "Core Japanese inflation rose more than expected in May. Even so, the Bank of Japan is likely to prioritize the negative impact of U.S. tariffs, Min Joo Kang of ING Economics said in a commentary. "For now, it's more concerned about the risk that US trade policies could break the virtuous circle of wage growth and inflation." Hong Kong's Hang Seng index climbed to 1.3% to 23,530.48, while the Shanghai Composite fell 0.2% to 3,359.90. China's central bank kept its key 1-year and 5-year loan prime rates unchanged, as expected. Australia's S&P/ASX 200 shed 0.2% to 8,505.50, while South Korea's Kospi gained 1.5% to 3,021.84. On Thursday, the Bank of England kept its main interest rate at a two-year low of 4.25%, citing risks that the conflict between Israel and Iran will escalate. The U.S. dollar slipped to 145.37 Japanese yen from 145.46 yen. The euro rose to $1.1516 from $1.1498.
IOL News
10 hours ago
- Business
- IOL News
Crude sinks as Trump delays decision on Iran strike
A fire blazes in the oil depots of Shahran, northwest of Tehran, on June 15 after further attacks from Israel. Speculation had been swirling that Trump would throw his lot in with Israel, but on Thursday he said he would decide "within the next two weeks" whether to involve the United States, giving diplomacy a shot to end the hostilities. Image: Atta Kenare / AFP Oil prices tumbled Friday and equity traders fought to end a volatile week on a positive note after Donald Trump said he would consider over the next two weeks whether to join Israel's attacks on Iran. Speculation had been swirling that Trump would throw his lot in with Israel, but on Thursday he said he would decide "within the next two weeks" whether to involve the United States, giving diplomacy a shot to end the hostilities. While tensions are sky high amid fears of an escalation, the US president's remarks suggested the crisis could be prevented from spiralling into all-out war between the Middle East foes. Since Israel first hit Iran last Friday, the two have exchanged deadly strikes and apocalyptic warnings, though observers said the conflict has not seen a critical escalation. European foreign ministers were due to meet their Iranian counterpart on Friday in Geneva. In a statement read out by White House Press Secretary Karoline Leavitt, the president said: "Based on the fact that there's a substantial chance of negotiations that may or may not take place with Iran in the near future, I will make my decision whether or not to go within the next two weeks." Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Next Stay Close ✕ Ad Loading Leavitt added: "If there's a chance for diplomacy the president's always going to grab it, but he's not afraid to use strength as well." Both main oil contracts were down around two percent Friday but uncertainty prevailed and traders remained nervous. "Crude still calls the shots, and volatility's the devil in the room -- and every trader on the street knows we're two headlines away from chaos," said Stephen Innes at SPI Asset Management. "Make no mistake: we're trading a geopolitical powder keg with a lit fuse. "President Trump's two-week 'thinking window' on whether to join Israel's war against Iran is no cooling-off period -- it's a ticking volatility clock." Stocks were mixed following a public holiday in New York, with Hong Kong, Taipei, Mumbai and Bangkok all up with London, Paris and Frankfurt. Seoul's Kospi led the gains, rising more than one percent to break 3,000 points for the first time in nearly three and a half years. The index has risen every day except one since the June 4 election of a new president, which ended months of political crisis and fuelled hopes for an economic rebound. Tokyo fell as Japanese core inflation accelerated, stoked by a doubling in the cost of rice, a hot topic issue that poses a threat to Prime Minister Shigeru Ishiba ahead of elections next month. There were also losses in Shanghai, Sydney, Singapore, Manila and Jakarta. The Middle East crisis continues to absorb most of the news but Trump's trade war remains a major obstacle for investors as the end of a 90-day pause on his April 2 tariff blitz approaches with few governments reaching deals to avert them being imposed. "While the worst of the tariffs have been paused, we suspect it won't be until those deadlines approach that new agreements may be finalised," said David Sekera, chief US market strategist at Morningstar.
Int'l Business Times
14 hours ago
- Business
- Int'l Business Times
Crude Sinks As Trump Delays Decision On Iran Strike
Oil prices tumbled Friday and equity traders fought to end a volatile week on a positive note after Donald Trump said he would consider over the next two weeks whether to join Israel's attacks on Iran. Speculation had been swirling that Trump would throw his lot in with Israel, but on Thursday he said he would decide "within the next two weeks" whether to involve the United States, giving diplomacy a shot to end the hostilities. While tensions are sky high amid fears of an escalation, the US president's remarks suggested the crisis could be prevented from spiralling into all-out war between the Middle East foes. Since Israel first hit Iran last Friday, the two have exchanged deadly strikes and apocalyptic warnings, though observers said the conflict has not seen a critical escalation. European foreign ministers were due to meet their Iranian counterpart on Friday in Geneva. In a statement read out by White House Press Secretary Karoline Leavitt, the president said: "Based on the fact that there's a substantial chance of negotiations that may or may not take place with Iran in the near future, I will make my decision whether or not to go within the next two weeks." Leavitt added: "If there's a chance for diplomacy the president's always going to grab it, but he's not afraid to use strength as well." Both main oil contracts were down around two percent Friday but uncertainty prevailed and traders remained nervous. "Crude still calls the shots, and volatility's the devil in the room -- and every trader on the street knows we're two headlines away from chaos," said Stephen Innes at SPI Asset Management. "Make no mistake: we're trading a geopolitical powder keg with a lit fuse. "President Trump's two-week 'thinking window' on whether to join Israel's war against Iran is no cooling-off period -- it's a ticking volatility clock." Stocks were mixed following a public holiday in New York, with Hong Kong, Taipei, Mumbai and Bangkok all up with London, Paris and Frankfurt. Seoul's Kospi led the gains, rising more than one percent to break 3,000 points for the first time in nearly three and a half years. The index has risen every day except one since the June 4 election of a new president, which ended months of political crisis and fuelled hopes for an economic rebound. Tokyo fell as Japanese core inflation accelerated, stoked by a doubling in the cost of rice, a hot topic issue that poses a threat to Prime Minister Shigeru Ishiba ahead of elections next month. There were also losses in Shanghai, Sydney, Singapore, Manila and Jakarta. The Middle East crisis continues to absorb most of the news but Trump's trade war remains a major obstacle for investors as the end of a 90-day pause on his April 2 tariff blitz approaches with few governments reaching deals to avert them being imposed. "While the worst of the tariffs have been paused, we suspect it won't be until those deadlines approach that new agreements may be finalised," said David Sekera, chief US market strategist at Morningstar. "Until then, as news emerges regarding the progress and substance of trade negotiations, these headlines could have an outsize positive or negative impact on markets." Brent North Sea Crude: DOWN 2.6 percent at $76.85 per barrel West Texas Intermediate: DOWN 1.9 percent at $73.62 per barrel Tokyo - Nikkei 225: DOWN 0.2 percent at 38,403.23 (close) Hong Kong - Hang Seng Index: UP 0.8 percent at 23,421.80 Shanghai - Composite: DOWN 0.1 percent at 3,359.90 (close) London - FTSE 100: UP 0.3 percent at 8,819.26 Euro/dollar: UP at $1.1517 from $1.1463 on Thursday
France 24
14 hours ago
- Business
- France 24
Crude sinks as Trump delays decision on Iran strike
Speculation had been swirling that Trump would throw his lot in with Israel, but on Thursday he said he would decide "within the next two weeks" whether to involve the United States, giving diplomacy a shot to end the hostilities. While tensions are sky high amid fears of an escalation, the US president's remarks suggested the crisis could be prevented from spiralling into all-out war between the Middle East foes. Since Israel first hit Iran last Friday, the two have exchanged deadly strikes and apocalyptic warnings, though observers said the conflict has not seen a critical escalation. European foreign ministers were due to meet their Iranian counterpart on Friday in Geneva. In a statement read out by White House Press Secretary Karoline Leavitt, the president said: "Based on the fact that there's a substantial chance of negotiations that may or may not take place with Iran in the near future, I will make my decision whether or not to go within the next two weeks." Leavitt added: "If there's a chance for diplomacy the president's always going to grab it, but he's not afraid to use strength as well." Both main oil contracts were down around two percent Friday but uncertainty prevailed and traders remained nervous. "Crude still calls the shots, and volatility's the devil in the room -- and every trader on the street knows we're two headlines away from chaos," said Stephen Innes at SPI Asset Management. "Make no mistake: we're trading a geopolitical powder keg with a lit fuse. "President Trump's two-week 'thinking window' on whether to join Israel's war against Iran is no cooling-off period -- it's a ticking volatility clock." Stocks were mixed following a public holiday in New York, with Hong Kong, Taipei, Mumbai and Bangkok all up with London, Paris and Frankfurt. Seoul's Kospi led the gains, rising more than one percent to break 3,000 points for the first time in nearly three and a half years. The index has risen every day except one since the June 4 election of a new president, which ended months of political crisis and fuelled hopes for an economic rebound. Tokyo fell as Japanese core inflation accelerated, stoked by a doubling in the cost of rice, a hot topic issue that poses a threat to Prime Minister Shigeru Ishiba ahead of elections next month. There were also losses in Shanghai, Sydney, Singapore, Manila and Jakarta. The Middle East crisis continues to absorb most of the news but Trump's trade war remains a major obstacle for investors as the end of a 90-day pause on his April 2 tariff blitz approaches with few governments reaching deals to avert them being imposed. "While the worst of the tariffs have been paused, we suspect it won't be until those deadlines approach that new agreements may be finalised," said David Sekera, chief US market strategist at Morningstar. "Until then, as news emerges regarding the progress and substance of trade negotiations, these headlines could have an outsize positive or negative impact on markets." Key figures at around 0715 GMT Brent North Sea Crude: DOWN 2.6 percent at $76.85 per barrel Tokyo - Nikkei 225: DOWN 0.2 percent at 38,403.23 (close) Shanghai - Composite: DOWN 0.1 percent at 3,359.90 (close) London - FTSE 100: UP 0.3 percent at 8,819.26 Euro/dollar: UP at $1.1517 from $1.1463 on Thursday Pound/dollar: UP at $1.3467 from $1.3429 Dollar/yen: DOWN at 145.38 yen from 145.63 yen Euro/pound: UP at 85.51 pence from 85.36 pence © 2025 AFP
Eyewitness News
2 days ago
- Business
- Eyewitness News
Oil edges down, stocks mixed but Mideast war fears elevated
HONG KONG - Oil prices slipped Wednesday following the previous day's surge but investors remained on edge fearing a US intervention in the Israel-Iran conflict after Donald Trump called for Tehran's "unconditional surrender". Iran and Israel exchanged missile strikes for a sixth day, with the US president's latest comments appearing to dent hopes that the crisis in the Middle East could be calmed. Leaving the G7 summit in Canada a day early on Monday, Trump said he was aiming for a "real end" to the conflict, not just a ceasefire. He later shared a series of social media posts that stoked speculation he could be planning to join Israel in its strikes on Iranian military and nuclear sites. Days after a senior US official said Trump had told Israel to back down from plans to assassinate top leader Ayatollah Ali Khamenei, Trump looked to reverse course. "We know exactly where the so-called 'Supreme Leader' is hiding. He is an easy target, but is safe there - We are not going to take him out (kill!), at least not for now," he wrote on his Truth Social platform. Warning Iran against targeting US interests, he also posted: "But we don't want missiles shot at civilians, or American soldiers. Our patience is wearing thin." And in a later post wrote: "UNCONDITIONAL SURRENDER!" The comments sent oil prices spiking more than 4% Tuesday on fears an escalation of the conflict could hammer supplies from the crude-rich region. But while both main contracts slipped Wednesday, investors remain on edge over any negative developments. Of particular concern is the possibility of Iran shutting off the Strait of Hormuz, through which around an estimated fifth of global oil supply traverses, according to a Commerzbank note. "Iran is reportedly ready to target US regional bases should Trump greenlight strikes on Iranian nuclear facilities," said Stephen Innes at SPI Asset Management. "Washington's refuelling jets are already en route, and if Fordow gets hit, expect the Strait of Hormuz to become a maritime minefield, Houthi drones to swarm Red Sea shipping lanes, and every militia from Basra to Damascus to light up American forward outposts." Equity markets Hong Kong, Sydney, Singapore, Mumbai, Wellington, Bangkok, Manila and Jakarta all sank, though Tokyo, Seoul and Taipei edged up. London gained in the morning even as data showed UK inflation slowed less than expected in May. Paris and Frankfurt also rose. The mixed day in Asian stocks followed a weak day on Wall Street, where a below-forecast reading on US retail sales for May - dragged by a slowdown in auto sales - revived fresh worries about the world's top economy. That came as another report showed factory output fell unexpectedly. Still, they did provide a little hope the Federal Reserve will eventually cut interest rates, with traders betting on two by the end of the year, according to Bloomberg News. Investors will be keeping track of the bank's latest meeting as it concludes later in the day, with most observers predicting it will stand pat. However, it is also due to release its rate and economic growth outlook for the rest of the year, which are expected to take account of the impact of Trump's tariff war. "The Fed would no doubt be cutting again by now if not for the uncertainty regarding tariffs and a recent escalation of tensions in the Middle East," said KPMG senior economist Benjamin Shoesmith. KEY FIGURES AT AROUND 0810 GMT West Texas Intermediate: DOWN 0.4% at $74.54 per barrel Brent North Sea Crude: DOWN 0.6% at $76.01 per barrel Tokyo - Nikkei 225: UP 0.9% at 38,885.15 (close) Hong Kong - Hang Seng Index: DOWN 1.1% at 23,710.69 (close) Shanghai - Composite: FLAT at 3,388.81 (close) London - FTSE 100: UP 0.2% at 8,850.28 Euro/dollar: UP at $1.1517 from $1.1488 on Tuesday Pound/dollar: UP at $1.3460 from $1.3425 Dollar/yen: DOWN at 144.99 yen from 145.27 yen Euro/pound: UP at 85.56 pence from 85.54 pence New York - Dow: DOWN 0.7% at 42,215.80 (close)
