Geopolitical risks and stalled US-Iran talks push crude higher while European equities and US futures decline on cautious sentiment.
WTI crude rose 3% to $91.37 amid ongoing US-Iran tensions and continued military strikes, with no breakthrough in ceasefire talks. Iran reiterated demands for unconditional release of frozen assets, dimming hopes for an imminent agreement.
European stocks fell, with the DAX and CAC 40 both down 0.5%, while S&P 500 futures slipped 0.3% and Nasdaq futures dropped 0.7%. US 10-year yields climbed 2.5 bps to 4.506%, and gold declined 1.7% to $4,381 on hawkish Fed risks.
The ECB signaled a likely June rate hike, with policymakers warning of persistent inflation risks despite a slight uptick in euro area economic sentiment for May.