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stock-index futures climbed on Sunday after the United States and Iran reportedly agreed to halt attacks on each other, following a weekend in which the two nations repeatedly exchanged fire in the Persian Gulf.
The reported agreement offered markets their first signal of de-escalation in a confrontation that had introduced fresh uncertainty into global energy and risk assets.
The Geopolitical Driver Behind the Market Move The Persian Gulf sits at the crossroads of a significant share of the world's seaborne oil trade, which makes any military exchange in the region a direct input into energy pricing.
When the United States and Iran traded fire over the weekend, the implied risk to supply routes was sufficient to keep traders on edge.
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