Equity markets rise while crude futures fall amid reports Iran may accept a US nuclear proposal, easing supply concerns.
Global equities climbed as investors weighed potential progress in Iran-US nuclear negotiations, which could ease geopolitical tensions. Major indices in Europe and Asia posted gains, with futures pointing to a higher open in the US.
Oil prices retreated after reports suggested Iran might accept a US offer to revive the 2015 nuclear deal, potentially increasing crude supply. Brent crude fell 1.8% to USD 92.30 a barrel, while WTI dropped 2% to USD 88.50.
The prospect of reduced sanctions on Iran offset concerns over tight global oil inventories, contributing to the decline in energy stocks. Markets await further details on the negotiations and their potential impact on commodity flows.