Discover how South Africa's financial markets are rebounding after geopolitical tensions, with key insights into oil prices and currency fluctuations that could impact your investments.
Over the last two weeks, financial markets across the globe started to recover steadily after the attacks by Israel and the USA on Iran that had led to the closure of the Strait of Hormuz.
The price of Brent crude rocketed from $70 per barrel to past $126 per barrel in April due to severe supply disruptions. In the same manner, prices plummeted back down to pre war levels last Friday, trading at $72 per barrel.
This decline is driven by the rapid resumption of shipping traffic through the Strait of Hormuz and progressing US Iran peace negotiations.
Global financial markets are experiencing a cautious recovery following a framework peace agreement and a 14 point memorandum of understanding signed between the United States and Iran.
