DAX rises thanks to hopes of relaxation in the Persian Gulf
Quick Look
- Hopes for a diplomatic rapprochement between the USA and Iran in the conflict in the Persian Gulf drove the Dax up by 0.8 percent on Friday.
- At the same time, crude oil prices are falling significantly.
AI-generated summary
Why It Matters
The conflict in the Persian Gulf affects global oil prices and financial markets. The UN General Assembly serves as a platform for diplomatic explorations.
Dusseldorf. Hopes of a rapprochement between the warring parties around the Persian Gulf are driving the leading German index into positive territory on Friday. In the early morning, the DAX was up 0.8 percent at 25,456 points. On Thursday, the Dax ended trading 0.6 percent in the red at 25,267 points.
According to consistent media reports, American and Iranian negotiators in New York are exploring a gradual exit from the war that would include the reopening of the Strait of Hormuz by Tehran and the lifting of the economic blockade against Iran by Washington. The Iranian foreign minister said on the sidelines of the UN General Assembly that he had also presented the USA with a new proposal to resume negotiations on a possible end to the war.
As a result, crude oil prices fell significantly. The North Sea oil Brent and the US oil WTI, each for delivery in November, fell by 1.2 and around two percent respectively to 105.32 and just under 92.74 dollars per barrel at the start of trading in Frankfurt.
What to Watch
AI outlook — possibilities, not facts
Continuation of negotiations between the USA and Iran.
Likely · Within weeks
Open Questions
- How specific are the conditions for exiting the war?
- Will the US government actually lift the blockade?
