ING commodities analysts

World shares advanced and oil prices fell over 4% after President Trump claimed a breakthrough in Iran war talks, potentially reopening the Strait of Hormuz. The S&P 500 and Dow futures rose, while Brent crude oil dropped 4.5% to $86.31 per barrel.

World shares rose and oil prices fell following U.S. President Donald Trump's claim of a breakthrough in Iran war talks. Markets reacted positively to reduced tensions, with Asian and European indices posting significant gains, while analysts remained cautious about the durability of the ceasefire.