LIVE | Markets rise after Trump's announcement, but uncertainty again drives oil prices higher
Confusion created by the Iranian parliament speaker's denial of an ongoing negotiation with Washington slightly dampens market optimism about an early resolution to the conflict.
A sailor points to an F18 fighter on the deck of the USS Gerald R. Ford.
The earthquake triggered by Donald Trump's announcement of the start of "positive and productive" negotiations with Tehran to end hostilities has been marred by denials in the Iranian media and by the speaker of parliament that talks are taking place. However, the power vacuum and the number of spokesmen taking the floor in the headless ayatollahs' regime seem to indicate that at least one sector would be in contact with the U.S., including through mediators such as Turkey.
This has caused a bipolar effect on the world economy. While stock markets continue the upward path initiated after Trump's announcement, uncertainty has turned around the fall in oil prices, which increased again during the Asian day.
On the war front, attacks continue between the two sides, with accusations from Iranian media that the U.S.-Israeli coalition had attacked energy centers despite Trump's moratorium.
Times correspond to Eastern Standard Time.
Uncertainty pushes oil back above the $100 a barrel mark
The price of Brent crude oil rebounded on Tuesday and was back above $100 a barrel, a day after a drop of more than 10% triggered by Trump's announcement of talks with Tehran, although the Islamic republic denied it.
In Asian trading, international benchmark North Sea Brent was up 3.89% to $103.83. Meanwhile, West Texas Intermediate (WTI), the U.S. market benchmark, soared 3.89%, to $91.53.
Asian markets rise buoyed by Trump's announcement
Asian stock markets opened higher on Tuesday following Trump's statements about "very good" negotiations with Iran, which however denied such a scenario.
In Tokyo, the Nikkei index was up 0.74% after two consecutive sessions of sharp declines, while Seoul's Kospi advanced 1.87%.
USS Gerald R. Ford arrived in Crete after leaving the Middle East to undergo repairs
The aircraft carrier USS Gerald R. Ford, the world's largest, docked at a naval base in Greece for "repair" and "maintenance" work, days after reporting a fire in the laundry area during its deployment to the Middle East as part of the offensive launched Feb. 28 alongside Israel against Iran.
"This arrival in port allows the ship to be subjected to efficient evaluation, repair and resupply," the Sixth Fleet explained, before insisting that the ship "remains fully capable of carrying out missions" and that "the USS Gerald R. Ford continues its overseas deployment," with no further details on the period of time it is scheduled to spend at the Souda Bay base in Crete.
Iranian press denounces attacks on energy plants despite moratorium announced by Trump
Iranian energy infrastructures were targeted by Israeli and U.S. airstrikes, the official Fars news agency claimed Tuesday, hours after President Donald Trump's unexpected u-turn to suspend bombing of power plants.
The facilities in Isfahan, in the center of the country, suffered "partial damage" and a shell hit in the nearby vicinity of a processing station of the Jorramshahr gas pipeline in the southwest, according to Fars.
U.S. strike eliminates at least 15 pro-Iranian ex-paramilitaries in Iraq
A "U.S. strike" in western Iraq killed 15 fighters of the Popular Mobilization Forces (Hashd al-Shaabi) early Tuesday morning, according to an updated balance sheet released by this alliance of ex-paramilitaries that includes pro-Iranian groups.
Among the victims is "the commander of operations in (the province of) Al Anbar for the Hashd al-Shaabi, Saad Dawai," the alliance, which is integrated into the regular forces of the Iraqi state but whose armed groups are known to act on their own, said in a statement.
Six injured in Tel Aviv in Iranian attacks
Six people were slightly injured Tuesday morning in Tel Aviv, where several explosions occurred following an Iranian missile alert, reported the Magen David Adom, the Israeli equivalent of the Red Cross.
The agency released videos of a partially shattered building and burning vehicles.
Tuesday morning, Iranian state television announced that Tehran fired a "new wave of missiles" at Israel. Later, the Israeli military said it was trying to intercept them.
Chevron CEO warns that the Middle East conflict "hurt global oil markets more than the Russia-Ukraine war"
Oil companies and the world's largest energy consumers face an incredible challenge to rebuild global oil supply chains and inventories once the critical Strait of Hormuz bottleneck opens, warned Chevron CEO Mike Wirth at the CERAWeek by S&P Global conference in Houston, in remarks picked up by Politico.
For Wirth, the Middle East war "hurt world oil markets more than the war between Russia and Ukraine."
"We have a lot of oil and gas now that is not flowing into the market. The physical supply chains are not responding immediately, so even if the strait opens at some point, it will take time to rebuild inventories of the right grades of crude and the right types of fuel."
Iran again attacks its neighbors
Saudi Arabia announced early Tuesday that it had destroyed about 20 drones in the east of the country, without giving further details. For its part, the Kuwaiti army claimed it was responding to "drone and missile threats."
Netanyahu believes Trump's deal with Tehran will ensure Israel's security, but warns they will continue to strike "both in Iran and Lebanon"
Israeli Prime Minister Benjamin Netanyahu said Monday that he spoke with Donald Trump and that the U.S. president believes joint military achievements can be translated into a negotiated agreement that protects Israel's interests, but vowed to continue attacks.
"We are continuing the strikes in both Iran and Lebanon," he said.
Everything that has happened in the war so far, here
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