US Secretary of State Rubio says we had a really good meeting at G7; we expect the Iran operation to conclude at the appropriate time, we are talking weeks, not months; Iran may decide to set up a tolling system on the Strait of Hormuz

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US Secretary of State Rubio says we had a really good meeting at G7; we expect the Iran operation to conclude at the appropriate time, we are talking weeks, not months; Iran may decide to set up a tolling system on the Strait of Hormuz

UN spokesperson says UN has established task force to create new mechanism for strait of Hormuz to facilitate fertilizer trade and movement of related raw materials

European Closes: Euro Stoxx 50 -1.19% at 5,500, Dax 40 -1.32% at 22,315, FTSE 100 -0.05% at 9,967, CAC 40 -0.87% at 7,702, FTSE MIB -0.74% at 43,379, IBEX 35 -0.95% at 16,803, PSI -1.28% at 8,882, SMI -0.73% at 12,550, AEX -1.09% at 960

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Context

The comments from US Secretary of State Rubio indicate a potentially swift resolution to the Iran operation, which may ease tensions in the region. The mention of a tolling system on the Strait of Hormuz suggests ongoing discussions that could influence oil flows and pricing dynamics. Overall, this could create a more stable environment for commodities, particularly WTI, but keep an eye on market reactions as developments unfold.

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