US-Iran Peace Talks Lower Oil Prices to Fuel Equity Rally
The S&P 500 climbed 1.18% to 6,967.38, placing it within 1% of its 52-week high. The rally was driven by a shift in investor sentiment from cautious to bullish as the geopolitical risk premium unwound. West Texas Intermediate crude fell 7.87% to $91.28 per barrel and Brent Crude dropped 4.6% to $94.79. This decline in energy prices follows a statement from President Trump that negotiations to end the Iran conflict could resume in Pakistan within two days. US and Iran are working to arrange a second round of peace talks ahead of a ceasefire deadline.
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