Oil Tumbles as US and Iran Pause Military Strikes: Markets Wrap

Skip to Content News Archives Economy Energy Oil & Gas Renewables Electric Vehicles Mining Commodities Agriculture Real Estate Mortgages Mortgage Rates Finance Banking Insurance Fintech Cryptocurrency Work Wealth Smart Money Wealth Management Investor Personal Finance Family Finance Retirement Taxes High Net Worth FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials More Innovation Information Technology FP500 Podcasts Small Business Lives Told Tails Told Shopping Financial Post Store Obituaries Place a Notice Advertising Advertising With Us Advertising Solutions Postmedia Ad Manager Sponsorship Requests Classifieds Place a Classifieds ad Working Profile Settings My Subscriptions Saved Articles My Offers Newsletters Customer Service FAQ News Economy Energy Mining Real Estate Finance Work Wealth Investor FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials This advertisement has not loaded yet, but your article continues below.HomePMN BusinessOil Tumbles as US and Iran Pause Military Strikes: Markets WrapOil dropped and US equity futures rose early Monday after the US refrained from striking Iran for a second straight night, easing concerns over disruptions to Middle East crude supplies following weeks of escalating conflict.Author of the article: You can save this article by registering for free here. Or sign-in if you have an account.g}qjq27{d310046[np7atm68_media_dl_1.png US Central Intelligence Agency,(Bloomberg) — Oil dropped and US equity futures rose early Monday after the US refrained from striking Iran for a second straight night, easing concerns over disruptions to Middle East crude supplies following weeks of escalating conflict.THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLYSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.SUBSCRIBE TO UNLOCK MORE ARTICLESSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.REGISTER / SIGN IN TO UNLOCK MORE ARTICLESCreate an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountBrent crude fell below $90 a barrel, while Nasdaq 100 contracts advanced more than 1%. The dollar edged lower against major peers, with the Australian dollar and euro leading gains as investors trimmed demand for haven assets.After striking Iran for 13 days, the US has apparently held off since late Friday without explanation, raising questions about President Donald Trump’s next move. Iran’s army said Sunday that Tehran had also suspended its military response. The pause came as Iranian and Omani officials held talks over shipping through the Strait of Hormuz, raising hopes that the key oil transit route may avoid further disruption.Get the latest headlines, breaking news and columns.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againWhether the lull in hostilities proves durable is likely to determine the direction of global markets this week. Investors will also be watching a trio of major central bank meetings, led by the Federal Reserve on Wednesday, for clues on how policymakers assess the inflation risks from higher energy prices and whether the recent surge in oil alters the outlook for interest rates.In Asia, Samsung Electronics Co. won a contract worth more than $200 billion to supply chips to Broadcom Inc., highlighting robust demand for AI infrastructure even as geopolitical uncertainty clouds the broader market outlook. Samsung and domestic peer SK Hynix Inc. are accelerating their global push for AI chip orders amid intensifying competition from rivals such as Taiwan Semiconductor Manufacturing Co. Meanwhile, Nvidia Corp. will invest $1 billion in Naver Corp. to help finance an AI data center in South Korea, extending a wave of investment by the world’s most valuable company that continues to bolster sentiment toward the region’s technology sector.Three days of Group of Seven central bank decisions begin with the Fed on Wednesday, followed by the Bank of England and the Bank of Japan. While none is widely expected to change policy, officials are likely to emphasize vigilance over the inflationary impact of higher energy prices.The Fed meeting has become considerably more uncertain over the past two weeks. Cooler-than-expected June inflation data initially strengthened the case for holding rates steady, but uncertainty in the Middle East and elevated oil prices have complicated the outlook.Intel Corp.’s upbeat quarterly report, which handily beat Wall Street estimates, still left a major question: how soon the chipmaker will line up outside customers for its factories.Qualcomm Inc., the biggest maker of smartphone processors, plans to increase prices by a percentage in the double digits, a move that’s likely to ripple through much of the tech industry.Some of the main moves in markets:S&P 500 futures rose 0.7% as of 7:03 a.m. Tokyo timeNasdaq 100 futures rose 1.2%The euro rose 0.3% to $1.1398The Japanese yen rose 0.1% to 163.60 per dollarThe offshore yuan was little changed at 6.7701 per dollarThe Australian dollar rose 0.4% to $0.7005Bitcoin rose 0.8% to $65,107.86Ether rose 1.3% to $1,936.7Spot gold rose 0.9% to $4,090.45 an ounceWest Texas Intermediate crude fell 5.6% to $84.31 a barrelThis story was produced with the assistance of Bloomberg Automation.This advertisement has not loaded yet.Notice for the Postmedia NetworkThis website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. 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