Markets signal optimism of U.S.-Iran resolution as oil prices fall and stock markets surge
The gains in U.S. stock markets this week have effectively erased the losses markets took since the start of the conflict on Feb. 28.
With the promise of renewed negotiations with Iran and Trump's statements that a resolution will come soon, oil prices have dropped and U.S. stocks are reaching all-time highs.
The U.S. benchmark price of oil surged to $112 per barrel last week prior to Trump announcing a two-week ceasefire with Iran. Once announced, the West Texas Intermediate price fell below $100. It continued to fall Wednesday, settling around $91 per barrel.
Stocks are approaching record highs Wednesday. The S&P 500 gained 0.4%, according to Yahoo!Finance. The Nasdaq Composite gained 1%, and the Dow Jones Industrial Average lost 0.4%.
This surge has effectively wiped out losses that were seen since the start of the conflict on Feb. 28.
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