Oil prices drop over 2% due to potential US-Iran nuclear deal leading to positive global shares

From Yahoo Finance: 2025-05-14 22:27:00

Oil prices dropped over 2% on Thursday due to a potential U.S.-Iran nuclear deal. European shares rose, and gold prices jumped over 1%. U.S. producer prices fell unexpectedly in April, while retail sales were mixed. Global equities rose 0.3%, and emerging market stocks eased. U.S. Federal Reserve officials are reconsidering their approach to monetary policy.

Russian President Putin declined to meet with Ukrainian President Zelenskiy, impacting peace prospects. Brent futures closed down over 2% as President Trump hinted at a possible deal with Iran. Iran stated they would never make nuclear weapons and eliminate highly-enriched uranium. Oil’s drop increased deflationary pressures in Europe.

In Europe, major indexes rose despite earlier energy sector-led losses. April jobless figures remained steady. On Wall Street, the Dow and S&P 500 rose, while the Nasdaq fell. Retailer Walmart reported strong sales but expressed concerns about Trump’s trade tariffs. The Fed’s Powell warned about potential supply shocks.

Britain’s economy grew more than expected in March. Euro zone industrial production exceeded predictions, but first-quarter GDP growth disappointed. Yields on German and U.S. 10-year bonds fell. Investors reacted to mixed news, with Asia-Pacific shares down. Currencies were volatile, with the dollar index falling and the euro rising. Gold futures settled higher.



Read more at Yahoo Finance: Oil prices drop on US-Iran progress; global shares gain in choppy trade