Markets Rally on Trump Iran Talk Claims as Strait of Hormuz Reopening Deal Nears
Updated
Updated · The New York Times · Aug 3
Markets Rally on Trump Iran Talk Claims as Strait of Hormuz Reopening Deal Nears
3 articles · Updated · The New York Times · Aug 3
Summary
Stocks and risk assets rose Monday after Donald Trump said Iran negotiations would resume and the “perimeters of a deal” had been reached to reopen the virtually closed Strait of Hormuz.
The rally reflected easing fears over oil flows through the chokepoint, even though Trump did not say who would join the talks and offered no details on the proposed arrangement.
Iran has not confirmed any Strait of Hormuz pact, and an Iranian government spokesman said there were no direct talks with the United States at the moment.
Iranian officials instead said talks were taking place Monday with Oman, leaving investors to weigh Trump’s market-moving claims against still-fragile diplomatic evidence.