Commodities
Stocks Dip on War Deal Hopes, Oil Prices Rebound
Stock markets took a dip on Wednesday as investors weighed the chances of a deal to end the Middle East war, following US President Donald Trump's statement that US and Iranian representatives held 'very good' talks at the United Nations.
The UN meeting has shifted market attention from pure escalation pricing towards a diplomatic process, according to Stephen Innes at Quintex Intel. However, a final deal remains distant.
Oil prices had fallen earlier due to a report that Saudi Arabia had rebooted operations along its East-West Pipeline, but rose almost 2 percent as Brent North crude climbed back above $100 per barrel.