Oil prices surge and stocks fall as Iran deal ends
Global markets reacted sharply on Wednesday after U.S. President Donald Trump declared the memorandum of understanding with Iran over during a NATO summit. Brent crude jumped 5% to $78 a barrel while European and U.S. equities declined as investors moved away from risk assets.
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Brent Crude Oil surged 5% to $78 a barrel on Wednesday after the United States declared an interim deal with Iran over. Global stocks tumbled as investors exited risk assets following the collapse of the memorandum of understanding intended to end the Gulf conflict. The escalation introduces fresh inflation risks to a bond market already grappling with multi-decade lows in crude inventories.
