Iran-U.S. Nuclear Talks Remain Unresolved as Strait of Hormuz Risks Keep Markets on Edge 
Gold Prices Hold Near Record Levels as Inflation Concerns Offset Middle East Ceasefire Hopes 
S&P 500 Hits Record High as Tech Rally Slows Amid Iran Peace Uncertainty 
US Imposes Fresh Iran Oil Sanctions Despite Progress on Ceasefire Talks 
UK Grocery Inflation Slows to 3.1% as Supermarket Price Pressures Ease in May 2026 
New World Screwworm Found Near U.S. Border Raises Threat to Cattle Industry and Beef Prices 
Asian Currencies Steady as U.S.-Iran Ceasefire Extension Hopes Weigh on Dollar 
European Stocks Rise as AI Optimism Offsets U.S.-Iran Tensions 
S&P 500, Nasdaq Hit Record Highs as Iran Ceasefire Talks and AI Rally Boost Markets 
Nikkei Hits Record High as AI Chip Stocks Power Japan Market Rally 
U.S. Sanctions Iran’s Strait of Hormuz Authority as Global Oil Markets Face Turmoil 
Oil Prices Jump After New U.S. Strikes on Iran Raise Supply Concerns 
Asian Stocks Rally as AI Boom and Iran Ceasefire Progress Lift Market Sentiment 
U.S. Launches New Strikes on Iran as Trump Signals Peace Deal Uncertainty 
Wall Street Reaches New Record Highs as AI Boom and Iran Ceasefire Hopes Boost Markets 
Oil Prices Set for Sharp Weekly Losses as U.S.-Iran Ceasefire Hopes Ease Supply Concerns 
Oil prices climbed to a four-month high during Asian trading on Thursday, extending recent gains as heightened geopolitical tensions between the United States and Iran prompted traders to price in a higher risk premium. The rally was further supported by ongoing supply disruptions in the U.S. caused by extreme winter weather, alongside continued weakness in the U.S. dollar.
Brent crude futures for March delivery rose 0.8% to $68.96 per barrel, while West Texas Intermediate (WTI) crude futures gained 0.9% to $63.75 per barrel. The weaker dollar, which tends to make commodities priced in dollars more attractive to international buyers, added to the upward momentum after the Federal Reserve left interest rates unchanged, as markets had widely anticipated.
Investor focus remained firmly on escalating U.S.-Iran tensions. Reports indicated that U.S. President Donald Trump was considering further military actions against Iran, including possible strikes targeting senior leadership and nuclear facilities. Earlier comments from Trump urging Iran to abandon its nuclear ambitions and reengage diplomatically were met with firm rejection from Tehran, which also warned of potential retaliation. The recent arrival of U.S. naval forces in the Middle East, along with claims that additional forces are en route, has fueled concerns over possible disruptions to Iranian oil production, a key factor driving crude prices higher.
At the same time, severe winter storms across large parts of the United States have significantly disrupted domestic oil supply. Sub-zero temperatures and heavy snowfall forced the shutdown of roughly 2 million barrels per day of crude production over the past week. Exports from the U.S. Gulf Coast were also affected, tightening overall supply conditions.
These disruptions were reflected in U.S. inventory data, which showed a sharp and unexpected decline. Government figures revealed that U.S. crude oil inventories fell by 2.295 million barrels in the week ending January 23, far exceeding market expectations for a modest 0.2 million barrel draw. Together, geopolitical uncertainty, weather-driven supply constraints, and supportive macroeconomic factors have combined to push oil prices to their highest levels in months, keeping markets on edge.
