Global Stocks Rise as US-Iran Deal Hopes Offset Brent at $104.97

16 articles · Updated · Euronews · May 22

European shares advanced Friday after signs the latest US-Iran talks may be nearing a breakthrough steadied risk appetite, with the DAX up 0.64%, the CAC 40 0.65% and the Euro Stoxx 50 0.88%.
Brent still climbed 2.3% to $104.97 and WTI rose 1.8% to $98.10 because Strait of Hormuz shipping remains well below pre-war levels, keeping traders wary of another false dawn.
Asian markets extended the rally—Japan's Nikkei jumped 2.7% after April inflation cooled to 1.4%—while Wall Street had already posted modest gains, with the S&P 500 up 0.2%.
US 10-year Treasury yields eased to 4.57% from above 4.67% earlier in the week, but elevated oil prices are still feeding inflation concerns across bonds, equities and other rate-sensitive assets.
The broader backdrop remains fragile: Brent is up from about $70 before the late-February conflict, and a US congressional vote on a war-powers measure has been delayed until June.

Is the oil market dangerously underestimating the risk of a prolonged Hormuz shutdown?

Will new pipelines make the Strait of Hormuz irrelevant before this crisis ends?

What non-military leverage can break the U.S.-Iran stalemate over the strait?