
Oil prices rose in the past few hours, with Brent above $104 and WTI near $92, as Iran signaled it has no intention of direct talks with the U.S., dampening hopes for a quick resolution to the conflict.
On Wednesday, major US indices closed higher, supported by a slight pullback in oil prices earlier in the day, which eased inflation concerns. However, uncertainty remains as Iran reviews a U.S. proposal while rejecting direct negotiations.
in early trading today, U.S. stock futures were mostly flat as investors await further reassurances around US-Iran negotiations.
In Asia, markets traded mixed on Thursday as uncertainty persisted, with Japan posting modest gains, while South Korea and Hong Kong declined, and Australia remained flat.
Gold reversed lower toward $4,500 after failing to hold above $4,600, ending its brief recovery as downside pressure resumed. Ongoing uncertainty around Middle East tensions and conflicting signals on negotiations has boosted demand for the U.S. dollar as a safe haven, weighing on gold.
While geopolitical risks remain elevated, expectations of further escalation and stronger USD continue to cap gold’s upside, with the technical outlook suggesting near-term downside risks remain in place.
In the forex market, EURUSD held near 1.1560 as the US dollar stabilized, with markets focused on ongoing diplomatic efforts between the U.S. and Iran.
Meanwhile, rising energy prices are fueling inflation concerns in Europe, with ECB officials signaling readiness to act if inflation pressures intensify, providing some underlying support to the euro.
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