Hopes of rapprochement are driving Dax into the black

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 0.9 percent at 25,485 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 0.6 and 1.3 percent respectively to just under 106 and 93.35 dollars per barrel at the start of trading in Frankfurt.