The announcement of a two-week ceasefire between Washington and Tehran, linked to the strategic reopening of the Strait of Hormuz, triggered a wave of euphoria in global financial markets. The disappearance, at least temporarily, of the specter of a large-scale energy conflict has pushed investors to abandon safe havens and bet on risk again.
The most striking signal comes from the energy sector. With the prospect of a restoration of crude oil flows through the Strait of Hormuz, oil prices have suffered a real collapse: WTI lost 14.42%, falling to 96.63 dollars a barrel. Brent leaves 13% on the ground, trading at 95.06 dollars. A sigh of relief for importing economies, which see the nightmare of an inflationary shock resulting from fuel costs receding.
The financial markets reflect diplomatic optimism: Asian stock markets close in bright territory, while futures on Europe and New York signal sharply rising openings. The dollar loses steam, reaching one-month lows against the yen (158.34). The Euro takes advantage of this, rising to 1.1685 on the greenback (+0.77%). The pound and the Swiss franc also strengthened significantly.