By Anand Krishnamoorthy
Crude oil advanced in volatile trading and equities lost momentum as investors remained wary ahead of President Donald Trump’s deadline for Iran to make a peace deal, with tentative ceasefire signals tempered by the risk of further escalation.
Brent rose 1.2% to trade above $111 a barrel after swinging between gains and losses in the run-up to Trump’s Tuesday 8 p.m. Eastern Time deadline.
Global equities — after gaining Monday on ceasefire hopes — fluctuated as uncertainty about the war kept investors on the sidelines.
US stock-index futures fell 0.4%. Asian shares trimmed earlier advances to rise 0.5%, led by technology stocks, which are viewed as less exposed to the six-week conflict in the Middle East.
Contracts indicated a tepid open for European stocks.
Traders are cautious ahead of Trump’s deadline as uncertainty over escalation risks, oil supply disruptions and policy responses limits conviction despite tentative ceasefire signals.
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