Stocks slip, oil climbs as US-Iran truce expiry looms
Summary
Oil prices climbed and stocks slid Tuesday as uncertainty reigned over US-Iranian peace talks resuming and the expiration of the two-week ceasefire in the Middle East loomed.Investors had been hoping that despite hostile rhetoric there was scope for a deal to end the Middle East war and reopen the vital Strait of Hormuz to oil and gas shipments.But Iran has not yet sent a delegation to neighbouring Pakistan for a new round of peace talks with the United States, even as the two-week ceasefire was set to expire by Wednesday.
Description
Oil prices climbed and stocks slid Tuesday as uncertainty reigned over US-Iranian peace talks resuming and the expiration of the two-week ceasefire in the Middle East loomed.Investors had been hoping that despite hostile rhetoric there was scope for a deal to end the Middle East war and reopen the vital Strait of Hormuz to oil and gas shipments.But Iran has not yet sent a delegation to neighbouring Pakistan for a new round of peace talks with the United States, even as the two-week ceasefire was set to expire by Wednesday.
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