Lates News

According to the Islamic Republic News Agency (IRNA) of Iran, Iranian Deputy Foreign Minister Gharibabadi stated that Iran is in the process of drafting a transit agreement for the Strait of Hormuz with Oman. Following this news, international crude oil prices plummeted significantly, with WTI crude oil dropping below $107 per barrel and Brent crude oil reaching a low of $103.5 per barrel. Spot gold prices briefly rose above $4700 per ounce. Non-US currency pairs rallied rapidly as the US Dollar Index (DXY) fell to 99.8. The three major US stock indices all saw a turnaround, with the Nasdaq recovering more than 2% of its previous losses at one point.