Markets edge higher as traders weigh Iran deadline risk
Asian equities showed modest gains, with MSCI’s broad Asia-Pacific index (ex-Japan) rising 0.4%, while Japan’s Nikkei reversed early advances to trade 0.2% lower.
US stock futures slipped 0.55%, although European markets were set for a firmer open after the long holiday weekend.
According to Stephen Innes of SPI Asset Management, markets remain rangebound as investors assess the countdown to Donald Trump’s Iran deadline. While tentative ceasefire signals have provided some relief, underlying concerns about escalation continue to limit risk appetite.
Innes noted that markets have become increasingly desensitised to geopolitical rhetoric, with traders focusing less on statements themselves and more on whether they are ultimately followed through.
Meanwhile, oil prices continued to rise as tensions intensified. Brent crude climbed to around $111 per barrel, while US benchmark West Texas Intermediate exceeded $115, marking its highest level in a month.
The move comes as Trump warned Iran it must agree to a ceasefire and reopen the Strait of Hormuz by 1am BST on Wednesday or face severe consequences, adding to uncertainty across global markets.
