21 Hrs
Source:
الاقتصادية
Wall Street reaches new highs as oil prices fall
US stock markets rose at the beginning of August amid declining oil prices and U.S. Treasury yields, amid signs of easing tensions between the United States and Iran, despite Iran's denial of any negotiations. Oil prices plummeted to their lowest levels in three weeks, with expectations of reaching an agreement with Iran. Brent crude futures dropped to $83.77 per barrel, and West Texas Intermediate to $80.34, leading to lower bond yields and improved stock performance. However, increased production from OPEC+ did not have a significant impact due to disruptions in Gulf oil exports and geopolitical issues. Additionally, U.S. oil exports hit an eight-month low amid reduced shipments to Asia and Europe, while China's imports rose notably, with ongoing market reactions to statements about talks with Iran influencing the oil market.
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