S&P 500 — US Large Cap Index
FTSE 100 — UK Blue Chips
Euro Stoxx 50 — Eurozone Leaders
DAX 40 — German Equities
CAC 40 — French Market Index
Nikkei 225 — Japan Benchmark
Hang Seng — Hong Kong Index
Shanghai Composite — China Mainland
ASX 200 — Australian Market
TSX Composite — Canada Index
Nifty 50 — India Large Cap
STI Index — Singapore Market
KOSPI — South Korea Index
Bovespa — Brazil Equities
JSE Top 40 — South Africa Index
IPC Index — Mexico MarketBrent crude oil futures rose above $68 per barrel on Monday as markets continued to gauge their appropriate risk premium. US President Trump struck a degree of optimism over the negotiations with Iran regarding a potential deal on defusing Iran’s uranium enrichment capabilities. Oil prices had soared in previous weeks after the escalating tensions between both countries drove markets to consider the risk of the US enforcing sanctions on Iranian oil to a greater extent and Iranian authorities intercepting tankers through the Strait of Hormuz. The growing risk premia offset the narrative that the oil market will remain oversupplied this year due to the cumulative output hikes from OPEC nations and strong productions from the US, Canada, and Brazil outside complementing the cartel. Lastly, oil imports were India were also uncertain as its trade deal with the US was attached with the halt of purchases from Russia, which has pushed back on major changes in contracts with Indian refiners.
