According to a Reuters report, as the pause in direct conflict between Iran and the United States continues, global markets reacted on Monday with a “drop in oil prices,” a “decline in the value of the dollar” and “cautious growth in stock markets,” even as maritime shipping data indicated ongoing disruptions across regional sea lanes.
Brent crude prices fell by over four per cent to approximately $92 per barrel. U.S. West Texas Intermediate (WTI) crude also dropped by more than five per cent.
Reuters attributed this decline to easing concerns among traders regarding widespread oil supply disruptions following the suspension of U.S. strikes against Iran.
Simultaneously, the U.S. dollar weakened against a basket of major currencies, including the Japanese yen, the euro and the British pound, while stock and bond markets recorded cautious gains.
However, signs of disruption to maritime transport persist. According to data from Kpler cited by Reuters, only 11 commercial vessels navigated the Bab-el-Mandeb Strait on Sunday, the lowest daily count recorded in several months. This drop followed recent Houthi attacks on Saudi oil infrastructure.
