Current Dax: Dax is trading higher – oil prices are falling again

Düsseldorf - The German leading index, the Dax, opened the day in the positive territory on Friday, climbing by 0.9 percent to 25,505 points. This marked an improvement from the previous day's trading, where the Dax had ended 0.6 percent lower at 25,267 points. Rumors of negotiations between the warring parties surrounding the Persian Gulf have fueled the Dax's upward movement.

According to reports, American and Iranian negotiators are discussing a phased withdrawal from the conflict in New York, which could lead to the reopening of the Hormus Strait by Tehran and the lifting of the economic blockade against Iran by Washington. Iranian Foreign Minister also revealed a new proposal for resuming negotiations on ending the war during a side event at the UN General Assembly.

Consequently, oil prices have shown a significant drop. The Brent oil from the North Sea and the US oil WTI, both for delivery in November, have both seen a reduction of 1.8 and 2.5 percent, respectively, to $104.73 and over $92 per barrel at the start of trading in Frankfurt.