Business World

Markets rally on truce

Markets rally on truce

The two-week truce has triggered a significant relief rally across Asian, European, and US equity futures.

Brent crude and WTI futures saw their sharpest declines in years, dropping over 15% as traders anticipate the resumption of flows through the Strait of Hormuz.

Banking and airline stocks led the gains, while traditional safe havens like the US dollar and gold experienced a cooling of demand.

Analysts warn, however, that the long-term economic impact of the six-week conflict remains to be fully assessed.