[MARKET UPDATE]: Stocks see upside and crude downside as Tehran Times says diplomatic and indirect channels of talks with the US are not closed
The news about continued diplomatic talks between the US and Iran is likely providing a boost to equities as it implies a potentially less tense geopolitical environment.
Fox's Baier said President Trump called him this morning and said “8 p.m. is happening” as of now said "if negotiations move forward today and there is something concrete, that could change, but he said it is moving forward with the plans that we have”
Kharg Island is completely safe; no damage was done to critical infrastructure, via Mehr News; notes no disruptions in functioning of oil and support facilities
[MARKET UPDATE]: Stocks see upside and crude downside as Tehran Times says diplomatic and indirect channels of talks with the US are not closed
Tehran Times says diplomatic and indirect channels of talks with the US are not closed
Chevron (CVX) and Phillips (PSX) chemical spokesperson says Cos. facilities in Saudi Arabia were not directly impacted by Iran attacks
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Conversely, this sentiment could be contributing to the weakness in crude prices, as improved relations may lead to concerns over increased Iranian oil supply in the market, weighing on prices. Traders should monitor how this unfolds, as any substantive advancements in talks could shift risk appetite and impact commodities further.
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