Oil prices sink as Trump signals he could end war even if Strait of Hormuz remains shut
Oil prices sank and most stocks rose today after it was reported Donald Trump is willing to end the Iran war even if the key Strait of Hormuz remains closed.
But investors remain wary as the report came just hours after Trump threatened to destroy Iran’s key oil export hub and desalination plants unless it accepts a deal to immediately reopen the waterway.
Both main oil contracts fell Tuesday, though West Texas Intermediate and Brent were still sitting well above $100 a barrel.
And most equity markets rose. Hong Kong, Shanghai, Sydney, Singapore, Wellington and Jakarta were all up, while Tokyo fluctuated.
Key figures at around 2:30am UK time:
Brent North Sea Crude: DOWN 1.3 per cent at $106.04 a barrel
West Texas Intermediate: DOWN 0.7 per cent at $102.22 a barrel
Tokyo – Nikkei 225: DOWN 0.1 per cent at 51,820.30 (break)
Hong Kong – Hang Seng Index: UP 0.5 per cent at 24,869.71
