March 23, Kathmandu – Following the ceasefire agreement between the United States and Iran, international oil prices have declined, sparking enthusiasm in stock markets. The ceasefire is expected to ease disruptions in the Strait of Hormuz, a key passage accounting for about 20 percent of the world’s oil supply. As a result, US crude oil prices fell more than 15 percent, dropping below $95 per barrel, according to CNN. However, this price remains higher than the $67.02 per barrel recorded before the conflict began on February 27.
The global benchmark Brent crude has also decreased by 12.88 percent, settling at $95.12 per barrel. Alongside this decline in oil prices, stock markets have shown positive momentum. The Dow Futures, which track the performance of 30 major US companies, rose by more than 900 points. Meanwhile, S&P 500 and Nasdaq Futures increased by 2.1 and 2.5 percent respectively. The S&P 500 index comprises 500 leading US companies, and its futures are widely used by investors to gauge the overall market health.
Economic news, conflicts, and interest rate developments significantly influence these indices. Nasdaq Futures predominantly represent companies in the technology sector, making them a key indicator of technology stocks’ performance. CNN also reported positive impacts on Asian stock markets, with gains observed in Japan, South Korea, and Hong Kong.
