Iran Uranium Talks Lift Stocks as Oil Slides Below $100

Global Oil Market – (Web Desk) – Oil prices slipped and stocks climbed on Thursday. Investors felt hopeful after signs of progress in peace talks between the US and Iran. The Iran uranium dispute remains unresolved, but both sides appear to be closing the gap. US Secretary of State Marco Rubio called the talks encouraging, though he firmly rejected any toll system on the Strait of Hormuz.

US crude oil settled at $96.35 a barrel, dropping $1.91 on the day. Brent crude also fell, closing at $102.58. Analysts welcomed the dip. “Oil is down and below $100, and that’s a good thing,” said Adam Sarhan of 50 Park Investments. Lower energy prices ease pressure on inflation and give consumers more breathing room.

All three major US stock indexes finished higher on Thursday. The Dow Jones rose over 276 points to close above 50,000. The S&P 500 and Nasdaq also edged up. Investors remain cautious but optimistic. Many believe the worst of the energy price spike may be temporary if a peace deal is reached soon.

IBM shares surged 12.4% after reports that the Trump administration plans to fund select quantum computing companies. D-Wave Quantum and other quantum stocks also saw sharp gains. Separately, SpaceX filed its much-anticipated IPO paperwork, revealing how much Elon Musk is betting on artificial intelligence to reshape the company’s future.

Turkey’s stock market was briefly halted after a steep sell-off. A top court annulled the 2023 congress of the main opposition party, the Republican People’s Party. The political blow shook investor confidence. The iShares MSCI Turkey ETF dropped 9.2% in US trading, reflecting the uncertainty gripping the country’s financial markets.