As a ceasefire between Iran and Israel seemed to be holding firm for a second day in a row, oil prices fell for the second day in a row while stock markets largely increased.
Following US President Donald Trump’s announcement of the truce, crude futures fell precipitously, prolonging earlier sharp declines in oil prices following Iran’s reaction to the US attack on its nuclear program that did not disrupt regional energy infrastructure.
Following the ceasefire’s improved dynamics in the Middle East, Wall Street stocks ended the day in positive position.
Art Hogan, chief market strategist at B. Riley Wealth, told the AFP news agency that the market “seems to be doing better” as a result of the “de-escalation.”
Trump envoy insists US attacks destroyed Iranian nuclear facilities:
An intelligence report that claimed that US airstrikes on Iran’s Fordow, Natanz, and Isfahan locations did not kill the nation’s nuclear program was rejected by Steve Witkoff.
“It will be nearly impossible for them to revive that program because the majority, if not all, of the centrifuges in all three of those were damaged or destroyed,” Witkoff told Fox News.
“It will take years, in my opinion and the opinions of many other experts who have seen the raw data.”
Witkoff also referred to the report’s release as “treasonous.”
Furthermore, the House has decisively rejected a move to remove President Trump from office on the grounds that he abused his authority by attacking Iran militarily without the consent of Congress.
Source: Al Jazeera, Fox News, BBC, AFP, AP
