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28/05/2026

Fresh U.S. attacks on Iran; oil climbs - what’s moving markets
Futures linked to the main indices on Wall Street float above the flatline, staying resilient despite a new exchange of attacks between the U.S. and Iran. Hopes for an imminent peace deal fade despite a slate of upbeat comments over the weekend. Oil prices once again march higher, hovering well above pre-war levels, while gold prices dip as worries abound over an energy-driven inflationary wave.

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1. Futures rise

U.S. stock futures pointed higher on Tuesday, with traders, returning to their desks for a holiday-shortened week, assessing fresh U.S. strikes on Iran.

By 03:42 ET (07:42 GMT), the Dow futures contract had risen by 281 points, or 0.6%, S&P 500 futures had climbed by 41 points, or 0.6%, and Nasdaq 100 futures had jumped by 220 points, or 0.8%.

"The market looks minded to continue pricing de-escalation in the Middle East – notwithstanding some occasional surgical strikes from the U.S.," analysts at ING said in a note.

The main averages on Wall Street were closed on Monday for Memorial Day.

U.S. stocks advanced in their prior session on Friday, with the blue-chip Dow Jones Industrial Average in particular notching a fresh record high close. Investors have been tracking rapid developments in the Middle East, as well as a solid batch of quarterly corporate earnings and ongoing enthusiasm around artificial intelligence.

2. U.S. launches new strikes on Iran

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The U.S. military carried out what it described as "defensive" strikes in southern Iran, sinking two Islamic Revolutionary Guard Corps vessels trying to lay mines in the Strait of Hormuz. The attacks sparked a retaliation from Tehran, which fired missiles at a U.S. drone and fighter jet. American attacks then hit missile launchers near Bandar Abbas, the Wall Street Journal reported, citing a U.S. official.

Recent optimism that Washington and Tehran may be approaching a lasting agreement to end their nearly three-month old war eased.

U.S. Secretary of State Marco Rubio flagged that discussions on a deal with Iran could "take a few days," adding that the Strait of Hormuz will eventually be fully reopened "one way or the other."

Over the weekend, news reports suggested that both sides had agreed in principle on a deal, while President Donald Trump later said talks were proceeding "nicely." However, Trump also warned of a resumption and escalation in fighting should a deal not be reached.

3. Oil gains

Oil prices moved higher, clawing back some losses recorded on Monday that were sparked by the reported progress in negotiations between the U.S. and Iran to reopen the Strait of Hormuz. Brent crude futures, the global oil benchmark, were last up by 2.4% at $98.39 a barrel, after having slumped below $100 earlier this week.

Still, Brent remains well above pre-war levels of around $70 a barrel, keeping the prospect of energy-induced inflationary pressures in play.

27/05/2026

26/05/2026

FTSE 100 today: Stocks rise as Iran deal hopes offset oil surge
British stocks edged higher on Tuesday as cautious optimism over U.S.-Iran ceasefire negotiations lifted sentiment, outweighed a fresh surge in oil prices that pushed Brent crude back towards $100 a barrel.

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The FTSE 100 gained 0.75%, outperforming a softer continental Europe where Germany’s DAX shed 0.28% and France’s CAC 40 lost 0.38%. Sterling slipped 0.21% to $1.3473, as of 03:15 ET (07:15 GMT).

Brent crude surged more than 2% a barrel, partially reversing Monday’s selloff, after U.S. Central Command confirmed "self-defence strikes" on Iranian missile launch sites and boats near the Strait of Hormuz.

Tehran has effectively halted nearly all non-Iranian shipping through the strait since hostilities began, choking roughly a fifth of global oil and LNG flows.

A Nikkei report said Iran had agreed in principle to clear mines from the waterway within 30 days under an emerging memorandum of understanding.

UK shop price inflation accelerated to 1.2% in May from 1% in April, the British Retail Consortium said, driven by war-related supply disruption and higher energy costs.

Furniture and health and beauty products rose by the most, reflecting climbing raw material and shipping costs, though food inflation eased to a one-year low of 2.7%. The BRC called on the government to do more to contain costs.

26/05/2026

UK oil majors slip as oil bounces on fresh U.S. strikes in southern Iran
Shares in Britain’s largest oil companies fell in early London trading on Tuesday as crude prices partially recovered following overnight US military strikes in southern Iran, leaving investors torn between hopes of a diplomatic breakthrough and fears the fragile ceasefire could yet unravel.

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Shell Plc fell 0.40% and BP Plc slipped 0.71% as of 05:14 ET (09:14 GMT). Smaller producers tracked the majors lower, with Harbour Energy down 1.97%, Serica Energy off 1.83% and Ithaca Energy losing 1.56%.

Brent crude futures rebounded 3.4% to $96.59 a barrel after closing lower at 6.78% on Monday to $93.42. WTI dropped 3.64% to $93.08.

The US military said it had conducted "self-defence strikes" overnight on Iranian missile launch sites and boats allegedly laying mines near the Strait of Hormuz.

CENTCOM spokesman Timothy Hawkins told CNN that forces acted "to protect our troops from threats posed by Iranian forces," insisting the ceasefire remained in place. Tehran gave no immediate indication it agreed.

The strikes landed hours after U.S. President Donald Trump claimed significant progress in negotiations, saying on Truth Social that Iran’s enriched uranium stockpile would be handed over to Washington or destroyed at an agreed location.

Iran offered a cooler assessment. Foreign Ministry spokesperson Esmaeil Baqaei acknowledged progress on "a large portion of discussion topics" but warned that "frequent changes in the positions of American officials complicate every negotiation," and said no imminent agreement could be claimed.