Crude oil prices retreated sharply on Monday as markets digested fresh reports suggesting a revival in diplomatic efforts between the United States and Iran.
The shift in sentiment marks a rapid reversal from recent trading sessions, where fears of a collapsing framework agreement had driven energy benchmarks higher and weighed on global equities.
Mega-cap technology stocks, including Meta and Microsoft, led the advance in US futures, with shares gaining approximately 5% as risk appetite returned.
Investors are now repricing the risk of supply disruption in the Strait of Hormuz, with the prospect of a stabilized geopolitical environment reducing the premium on oil.
The cross-asset reaction was immediate and pronounced.
While energy commodities faced selling pressure, equity markets responded positively to the de-escalation narrative.
Mega-cap technology stocks, including Meta and Microsoft, led the advance in US futures, with shares gaining approximately 5% as risk appetite returned.