World Stocks Hit Record Highs as Oil Prices Decline
Global equity markets reached new peaks on Friday as artificial intelligence optimism boosted technology shares and the S&P 500 notched another record. Oil prices faced their sharpest weekly decline in two months amid reports that the U.S. and Iran may reach a deal to reopen the Strait of Hormuz.
Global stocks hit record highs on May 29 while Brent Crude Oil futures dropped 10% this week on hopes for a Strait of Hormuz deal. United States and Iran negotiators reportedly reached an agreement to lift shipping restrictions and extend a ceasefire, though U.S. President Donald Trump has yet to approve it and Iranian state media said it had not been finalised. The deal removes a tail risk for energy markets while AI-driven demand continues to propel equity valuations.
