Oil Down $4, Gold Up, US Stocks Rise on Iran Ceasefire Deal Affirmation

MGR Online•International•138d ago

Reader Briefing

Global markets react positively as the US confirms the integrity of the Iran ceasefire deal despite recent escalations.

•Oil prices saw a significant drop of over $4 per barrel.
•Gold prices recovered from a monthly low, influenced by Middle East tensions.
•US stock markets, including the S&P 500 and Nasdaq, closed higher, reaching record highs.
•The US reiterated its commitment to the Iran ceasefire agreement, easing supply concerns.

•On Tuesday, May 5, oil prices fell significantly amidst volatile trading.
•Washington affirmed that the ceasefire agreement with Iran remains intact.
•US forces escorted shipping lanes through the Strait of Hormuz, ensuring passage for several vessels.
•West Texas Intermediate crude futures for June delivery dropped $4.15 to settle at $102.27 per barrel.
•Brent North Sea crude futures for June delivery decreased $4.57 to close at $109.87 per barrel.
•Gold prices rebounded after hitting a one-month low, as investors assessed the fragile Middle East ceasefire and its potential inflationary impact.
•US Gold Futures for June delivery rose 0.8%, closing at $4,568.50 per ounce.
•The Dow Jones Industrial Average increased 356.35 points (0.73%) to 49,298.25, the S&P 500 gained 58.47 points (1.02%) to 7,259.22, and the Nasdaq composite rose 258.32 points (1.03%) to 25,326.13.

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Pete Hegseth

"The US has secured shipping lanes through the Strait of Hormuz, with several vessels queuing to transit this vital waterway."

สหรัฐฯได้เข้าคุ้มกันเส้นทางเดินเรือผ่านช่องแคบฮอร์มุซ และมีเรือหลายลำต่อแถวที่จะผ่านน่านน้ำอันสำคัญยิ่งแห่งนี้

United States(อเมริกายัน)ℹ️

Affirmed the continuation of the ceasefire agreement with Iran.

United States(สหรัฐฯ)ℹ️

Reiterated commitment to the Iran ceasefire, managed maritime security in the Strait of Hormuz.

Intel(อินเทล)ℹ️

Company whose stock surged over 13%, contributing to the positive performance of US stock markets.

Company reportedly considering diversifying its chip manufacturers beyond TSMC.

Sole chip manufacturer currently relied upon by Apple, which Apple is considering reducing dependence on.

Iran(อิหร่าน)ℹ️

Subject of a ceasefire agreement with the United States and involved in recent military actions.

Strait of Hormuz(ช่องแคบฮอร์มุซ)ℹ️

A vital maritime passage where the US secured shipping lanes.

United Arab Emirates(สหรัฐอาหรับเอมิเรตส์)ℹ️

Reported being attacked by Iran with missiles and drones.

Wall Street(วอลล์สสตรีท)ℹ️

Refers to the US stock market which closed higher.

Pete Hegseth(พีท เฮกเซธ)

US Secretary of Defense who stated that the US secured shipping lanes through the Strait of Hormuz.

US Gold Futures(ยูเอส โกลด์ ฟิวเจอร์ส)

Commodity futures contract for gold that saw a price increase.

S&P 500(เอสแอนด์พี 500)ℹ️

US stock market index that reached a record high.

Nasdaq(แนสแดค)ℹ️

US stock market index that reached a record high.

Dow Jones(ดาวโจนส์)ℹ️

US stock market index that saw a significant increase.