Brent Oil Falls Below $90 | Trump Says Won’t Strike Iran, Deal May Be Signed This Weekend

Global markets are rallying after U.S. President Donald Trump indicated that a deal with Iran could be finalized as early as this weekend, potentially easing geopolitical tensions in the Middle East. Trump said the agreement "should be done pretty quickly" and suggested the signing could take place in Europe, while Iran stated that no final decision has yet been made.
Investor sentiment improved sharply as the U.S. military confirmed that the Strait of Hormuz remains open for transit and Trump claimed Iran has agreed not to develop or acquire nuclear weapons. Wall Street futures traded higher following the remarks, building on Thursday's strong rally that saw major U.S. indices gain between 1.7% and 3%.
Commodity and bond markets also reacted positively. Brent crude slipped below $90 per barrel, while U.S. Treasury yields declined after Trump called off potential military strikes on Iran, with the 10-year yield falling to 4.47% and the 30-year yield dropping below 5%. The U.S. dollar weakened, gold recovered above $4,200, and investors assessed stronger-than-expected wholesale inflation data, which rose 1.1% month-on-month and 6.5% year-on-year in May.
Asian markets opened firmly higher on hopes of reduced geopolitical risk, with South Korea's KOSPI surging around 7% in early trade. Back home, GIFT Nifty signaled a strong gap-up opening for Indian equities. Meanwhile, investor attention is also turning to SpaceX, which is reportedly valued at $1.77 trillion based on its issue price of $135, reinforcing optimism around technology and growth-focused assets.


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