Oil Prices Reach Wartime High. Follow for Live Updates Here.
Asian stocks fell and Brent crude rose $1.11 as stalled Iran talks kept the Strait of Hormuz effectively closed, traders said.
- On Tuesday, shares in Asia retreated and oil prices gained as diplomatic efforts to end the Iran war appeared to stall, intensifying market uncertainty.
- Japan's benchmark Nikkei 225 fell 1.1% to 59,884.12, while Brent crude for June delivery climbed $1.11 to $109.34 per barrel amid concerns over the effectively closed Strait of Hormuz.
- Gas prices in Spokane, Wash., are nearing record highs, with regular fuel at Town's Conoco costing $4.95 per gallon, up significantly from the $4.29 average AAA reported two months ago.
- Jim Ahins, who recently arrived from Arizona, noted the immediate price shock, while local driver Fred Brown said, "I have saved money all my life. That's the only reason I can stay here."
- Investors are looking ahead to interest-rate decisions from the Federal Reserve and European Central Bank this week, alongside earnings reports from major companies including Apple and Amazon.
42 Articles
42 Articles
The negotiations between the US and Iran are stuck, and there is no prospect of an end to the war in the Middle East, which increases the nervousness of the financial markets and increases the risks for the global economy.
Asian stocks swing, oil edges up with Iran war peace talks stalled
HONG KONG, China — Asian stocks fluctuated Wednesday while oil prices swung as talks to end the Iran war appeared to be at a standstill and the crucial Strait of Hormuz no nearer being reopened. While the White House has said Donald Trump and his team were considering Tehran’s latest proposal to restore traffic through the
KHQ Right Now
Stocks swing, oil edges up with Iran war peace talks stalled
Asian stocks fluctuated Wednesday while oil prices swung as talks to end the Iran war appeared to be at a standstill and the crucial Strait of Hormuz no nearer being reopened.
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