MARKET UPDATE: New lows seen in equity futures while oil adds to gains on reports Iran to maintain hardline position on the Strait of Hormuz
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MARKET UPDATE: New lows seen in equity futures while oil adds to gains on reports Iran to maintain hardline position on the Strait of Hormuz
German Chancellor Merz says will speak by phone with US President Trump over the weekend
US officials are furiously trying to avert a potential months-long closure of the Strait of Hormuz, CNN reports
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Context
The new lows in equity futures signal increasing risk aversion among investors, likely influenced by geopolitical tensions. Iran's commitment to a hardline stance on the Strait of Hormuz adds upward pressure on oil prices due to concerns over potential supply disruptions, which could further complicate the global energy outlook.
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