Israeli army launches new attacks in southern Lebanon/ Orders evacuation of historic city
Israeli military forces have launched new attacks on the c...
Oil prices are falling after Israel and Iran have halted retaliatory attacks on each other, while traders believe statements by US President Donald Trump that a deal to end the conflict in the Middle East is close.
Brent crude, the global benchmark, fell about 2% to $92.40 a barrel shortly before 6 a.m. ET. Meanwhile, WTI crude, the U.S. benchmark, fell 2.41% to $89.10 a barrel.
Israel and Iran have restored a ceasefire after an exchange of missiles on Sunday and Monday that threatened a major escalation in the conflict. At the same time, US President Donald Trump said the United States could reach a deal with Iran within days - a claim he has made dozens of times over the past two months.
Trump said the deal would allow for the immediate reopening of the Strait of Hormuz, a vital sea route for global oil transport. However, analysts estimate that Iran's ability to disrupt traffic at this strategic point will continue even after the conflict ends, regardless of any agreement with the US.
Meanwhile, Asian stock markets largely recovered from Monday's losses as optimism about developments in artificial intelligence returned. Major European stock indexes are also trading mostly higher.
In the United States, futures contracts for the Dow Jones Industrial Average, NASDAQ Composite and S&P 500 indices signal a stronger market opening. /CNA
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