Overview
- Asian shares, which hit fresh records Thursday, climbed after reports said Iran is reviewing a U.S. proposal for a limited agreement to halt fighting.
- Oil benchmarks sank roughly 7–9% Wednesday on deal hopes, with Brent hovering near $100 a barrel as traders weighed the prospect of tankers returning to the Strait of Hormuz.
- U.S. futures hovered near all-time highs and Europe steadied after a sharp jump, helped by strong technology and AI earnings that have amplified the risk-on tone.
- India’s Sensex jumped about 941 points Wednesday as crude fell, then traded choppily Thursday with continued foreign investor outflows keeping sentiment cautious.
- The draft framework leaves core issues unresolved, including reopening the strait and nuclear demands, and analysts warn flows could normalize slowly given damaged infrastructure and stockpiling.