Gulf traffic resumes under Iran-Oman regulation following a US-Iran ceasefire, easing supply concerns and boosting market sentiment.
Iran confirmed the lifting of its naval blockade in the Strait of Hormuz after a US ceasefire memorandum, effective tonight. Gulf shipping routes will now be regulated jointly by Iran and Oman, with a 60-day negotiation period set for sanctions relief and asset unfreezing.
Dow futures climbed on hopes of reduced geopolitical tensions, while AI-linked stocks like Micron and ASTS rose 5% and 6%, respectively. The deal follows weeks of heightened supply chain risks and elevated oil price volatility, though analysts caution over lingering uncertainties.
Market focus shifts to the Federal Reserve and stretched valuations, with SpaceX’s $226 billion price tag drawing scrutiny amid broader IPO activity.