Global stocks struggle, oil jumps as Trump s Iran deadline looms

Global stock markets showed mixed reactions on Tuesday, while oil prices hovered around $110 per barrel. Investors remained cautious due to fears of a worsening situation in the Middle East and the approaching deadline for a potential agreement. Since the U.S.-Israel conflict with Iran began at the end of February, markets have been unsettled. Iran's actions to effectively close the Strait of Hormuz, a crucial passage for global oil transport, have raised concerns about inflation. Although investors are hoping for a resolution, negotiations have not made any headway. U.S. President Donald Trump set a deadline for 8 p.m. Eastern Time (0000 GMT Wednesday) for a deal to be established. This uncertainty has kept markets on edge, with the U.S. dollar maintaining its strength and oil prices climbing. Brent crude futures increased by 0.4% to $110.19 a barrel, while U.S. West Texas Intermediate crude futures rose 0.8% to $113.31. A strong profit forecast from Samsung Electronics provided a slight boost to investor confidence, but the focus remained on the conflict in Iran. MSCI’s broad index for Asia-Pacific shares outside Japan gained 0.4%. Japan's Nikkei index was unstable, losing 0.2% after earlier gains. Meanwhile, U.S. stock futures dipped by 0.55%, while European futures indicated a positive start after being closed for holidays on Friday and Monday. "We are back on a countdown imposed by Trump, and it’s hard to predict what will happen next," stated Kyle Rodda, a senior markets analyst at Capital.com.