Stocks rise as oil prices tumble after Trump hails 'energy ceasefire'
Summary
Global stock markets rose after oil prices fell more than one percent following Donald Trump’s announcement of an “energy ceasefire” between Russia and Ukraine. The move came amid renewed Houthi attacks on Saudi Arabia and fresh uncertainty over the war, sanctions and market reactions.
Key Points
- Most stock markets rose as crude prices tumbled after Trump announced an “energy ceasefire” between Russia and Ukraine.
- The announcement drew surprise in Kyiv, while Russia has not yet confirmed any agreement.
- Houthi attacks on Saudi Arabia had initially pushed oil prices higher before the market reversed course.
- Investors are also watching upcoming US inflation data, retail sales figures and the start of earnings season.
