How Have Markets Reacted?
While U.S. markets are closed for Memorial Day, stocks in Europe and Asia soared on Monday amid optimism about a potential end to the Iran war and reopening of the Strait of Hormuz. Japan’s benchmark Nikkei 225 index soared 2.87%, while South Korea’s KOSPI rose 0.41%, Hong Kong’s Hang Seng climbed 0.86% and India’s BSE Sensex bounced up 1.2%. In Europe, Germany’s DAX Index rose 1.08%, while France’s CAC 40 climbed 1.07%.
Read more A Rare ‘Blue Moon’ Is Coming — What It Really Means
How Has The Price Of Oil Been Impacted?
The global oil benchmark Brent Crude Futures fell to $98.60 per barrel on Monday morning, down nearly $5 compared to the end of last week. The U.S. benchmark West Texas Intermediate also fell more than $4.50 cents to $91.95 per barrel. According to Bloomberg, at least one super tanker carrying crude oil from Iraq was able to cross the Strait of Hormuz over the weekend and is now heading towards China. Abu Dhabi’s state owned oil company has also reportedly used its own tankers to slip shipments of oil out of the strait which is blockaded both by Iran and the U.S.
What Have Iranian Officials Said?
When asked about comments made by U.S. officials, including Trump, Iranian Foreign Ministry spokesperson Esmaeil Baqaei told reporters on Monday: “We have far more important matters to deal with, and if we spend our time responding to the other side’s tweets, photos, and media posts, we won’t be able to focus on those priorities.” He added: “Whenever necessary, we will respond. We have our own style and approach, and we are not going to imitate the enemy’s methods.” On Sunday, Iranian President Masoud Pezeshkian on Sunday said his country is “ready to assure the world we do not seek nuclear weapons.”
Read more Rich Americans Are Collecting Citizenships As ‘Plan B’ In Uncertain Times
Further Reading
Trump Blasts ‘Losers’ Criticizing Potential Iran Deal After Republican Uproar (Forbes)
Read more Pope Leo Paints Bleak AI Future—With ‘Tower Of Babel’ Warning—Without Human Control