Stocks Rise as Oil Sinks On Strait of Hormuz Hopes
Stay on top of this story
Follow the names and topics behind it.
Add this story's key topics to your watchlist so LyscoNews can highlight related developments and future matches.
Create a free account to sync your watchlist, saved stories, and alerts across devices.
Quick Summary
A slide in oil prices lifted stocks and bonds on hopes that more tankers will be able to traverse the Strait of Hormuz, with signals that rich nations could release more stockpiles also helping sentiment. While traffic through Hormuz remains at a near-standstill amid the Iran war, US crude settled at $93.50 as a trickle of vessels started to find a way through the oil route. Racquel Oden, US Head of Wealth and Private Banking at HSBC joins to discuss how the markets may react to headlines in the short term, but over time they follow earnings, and the earnings outlook remains strong. (Source: Bloomberg)