US, Iran Reopen Strait of Hormuz as Oil Holds Near $81 and Stocks Rally
Updated
Updated · Bloomberg · Jun 15
US, Iran Reopen Strait of Hormuz as Oil Holds Near $81 and Stocks Rally
3 articles · Updated · Bloomberg · Jun 15
Summary
$81-a-barrel US crude steadied in early trading after Monday’s sharp drop, as Washington and Tehran agreed to reopen the Strait of Hormuz and ease immediate supply fears.
That relief helped cool inflation worries and drove a risk-on move: the S&P 500 rose 1.7% and the Nasdaq 100 jumped 3.1%, while US equity futures were little changed afterward.
Asian markets were set for a mixed open, with futures pointing lower in Sydney and Hong Kong but higher in Tokyo ahead of a Bank of Japan decision later Tuesday.
The reopening of the key shipping chokepoint shifted the market focus from disruption risk back to central banks and regional equity performance.