As investors prepare for US President Donald Trump’s deadline for Iran to either agree to a deal or have their oil infrastructure targeted by airstrikes, both European and Asian markets opened marginally lower on Tuesday.
Iran has until 8 p.m. Eastern Time (2 a.m. CET) to accept a deal that would maintain the Strait of Hormuz open to all shipping or risk what Trump has described as the “complete demolition” of its civilian infrastructure, including all of the nation’s power plants and bridges.
Benchmark US crude is currently trading at $113.5 a barrel, while Brent crude, the global benchmark, is currently trading at about $111. There is a 1% increase in both prices.
Both the Euro Stoxx 50 and the larger pan-European Stoxx 600 have increased by 0.5%.
France’s CAC 40 and Italy’s FTSE MIB have both increased by about 1%, while the UK’s FTSE 100 is flat and Germany’s DAX 30 has increased by about 0.2%. As the deadline approaches, markets in Asia are responding in a variety of ways.
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