Global equity markets retreated and oil prices rallied on Tuesday as fresh reports suggested the framework agreement between the United States and Iran is at risk of collapse.
The reversal in sentiment marks a sharp pivot from earlier in the week, when diplomatic progress had driven energy benchmarks down and lifted risk appetite across global exchanges.
Brent crude climbed back toward the $80-a-barrel level, erasing much of the decline seen after the initial reports of a ceasefire framework.
Brent crude climbed back toward the $80-a-barrel level, erasing much of the decline seen after the initial reports of a ceasefire framework.
The rebound reflects trader anxiety that the diplomatic window may be closing, potentially exposing supply chains to renewed geopolitical friction.
European bourses followed the energy complex lower, with Italy’s FTSE MIB falling 1.2% as investors repriced the probability of a lasting resolution.
The volatility underscores the fragility of the current truce.