Capital Economics: Stalemate in negotiations may dampen optimism on the resolution of the Iran war.

Janas Goltermann of Capital Economics stated that if the standoff between the United States and Iran continues, and the Strait of Hormuz remains largely closed, the optimistic sentiment in the market that a resolution to the Iran conflict could be reached in the short term may soon start to fade. The analyst said, "Negotiations aimed at ending the US-Iran conflict and reopening the Strait of Hormuz appear to be once again stalled, leading to a cautious start to the financial markets this week." He also added, "Time is not on the side of the optimists: with each passing day, disruptions to the energy markets will increase, leading to downstream damage to the global economy." In European markets, Brent crude oil rose by 2.4% to $107.88 per barrel, while West Texas Intermediate rose by 2.2% to $96.47 per barrel.