Latest Business News
US Stock Futures Gain on Ceasefire Push Report
US stock futures rose 0.2% on S&P 500 as investors eyed a potential 45-day ceasefire in the Iran war involving US, Iran, and mediators. Crude oil dipped with Brent near $108 a barrel, while the dollar weakened and 10-year Treasury yields held at 4.36%. European and Asian markets remained closed for Easter holiday.
Oil Shock Strains Global Economy Amid Iran Conflict
OPEC+ warned of prolonged oil supply damage from Middle East energy assets hit in the Iran war, causing market turmoil. US inflation data expected to show 1% CPI rise in March due to $1/gallon gas price surge from the conflict.
Brent crude's prompt spread exceeded $10 in backwardation, the widest since the war began.
Bursa Malaysia Opens Lower on Geopolitical Tensions
Kuala Lumpur's Bursa Malaysia index declined at open due to ongoing geopolitical risks from the Iran war. Brent crude traded volatile between $100-$110 per barrel, pressuring regional markets.
Investors remain cautious amid persistent tensions.
India's Sensex and Nifty Rebound on Oil Price Correction
Benchmark indices Sensex and Nifty sharply recovered after early losses, boosted by falling crude prices and strong buying interest. The rally reflects optimism over stabilizing energy costs amid global volatility.
Top gainers and losers shifted favorably in BSE Sensex and Nifty50.
Trump Issues Ultimatum Threatening Iran Infrastructure
President Trump threatened strikes on Iran's bridges and power plants if the Strait of Hormuz isn't reopened by Monday. The provocative post ended with 'Praise be to Allah,' amid reports of a ceasefire push.
This escalates tensions in the ongoing US-Israel-Iran conflict started in late February.
Iran's Intel Chief Killed in US-Israel Strikes
Iran's intelligence chief was killed in recent US and Israeli strikes, intensifying the war that has killed thousands. Retaliatory Iranian strikes damaged civilian facilities in UAE, Kuwait, and Bahrain.
The conflict has disrupted shipping routes and spiked global fuel prices.
OPEC+ Warns of Long-Term Oil Supply Disruptions
Following a Sunday meeting, OPEC+ highlighted enduring damage to Middle East energy infrastructure from the Iran war. This will impact oil supply even post-conflict, fueling economic stress.
Markets show acute supply concerns with backwardation patterns.
Global Markets Shadowed by Trump Escalation Threats
Trading opened influenced by Trump's threats against Iran, with US futures gaining despite risks. Crude oil volatility persists as ceasefire discussions offer some relief.
Broader economy faces inflation pressures from rising gasoline costs.
Explosives Found Near Russia-Serbia Gas Pipeline
Serbian President Vucic reported two large explosive packages discovered near a key gas pipeline from Russia to Serbia and Hungary. The incident heightens energy security fears amid Iran war disruptions.
Location was in northern Serbia's Kangiza region.
Iran War Drives Sharp US CPI Increase Expected
Economists forecast a 1% March CPI jump, the largest since 2022, driven by $1/gallon US gas price hike from the war. This data release later this week will spotlight consumer impacts.
Oil market backwardation signals ongoing supply tightness.
Ceasefire Talks Focus Investor Attention Amid War
Axios reported US, Iran, and regional mediators discussing 45-day ceasefire terms, lifting stock futures. However, Trump's threats and continued strikes cloud prospects.
Conflict has shaken markets, cut shipping, and elevated fuel costs globally.