Optimism Buoys Stocks and Oil Prices as Diplomatic Talks Progress

Oil prices steadied and global stocks extended their rally on growing investor optimism that diplomatic talks between warring nations could yield a permanent peace agreement. The uptick in market sentiment came as negotiators from both sides reported progress in ceasefire discussions, fueling hopes that an end to the conflict may be in sight.

Crude oil futures rose to around $100 per barrel, stabilizing after volatile swings in recent weeks driven by supply disruptions and uncertainty around the trajectory of demand. The West Texas Intermediate benchmark, the U.S. oil price standard, climbed 2.3% to $99.91 per barrel, while global Brent crude rose 1.9% to $104.64.