{
  "id": 19314002,
  "title": "Markets today | Oil prices slide further as hopes of US-Iran deal lift global stocks",
  "url": "https://urgent.news/2026/11/10/markets-today-oil-prices-slide-further-as-hopes-of-us-iran-deal-lift",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-11-10T09:06:34.000Z",
  "source": {
    "name": "IOL",
    "slug": "iol",
    "url": "https://iol.co.za/business/economy/2026-11-10-markets-today-oil-prices-slide-further-as-hopes-of-us-iran-deal-lift-global-stocks/"
  },
  "original_language": "en",
  "account": "Stock markets experienced a surge on Tuesday as investors welcomed a significant drop in oil prices and Wall Street's technology-led recovery, with optimism surrounding a potential Middle East agreement. The two main crude benchmarks declined by about 1% on Tuesday, furthering their losses from the previous day when Brent crude dropped nearly 6%. Oil prices have plummeted by roughly 20% this month due to expectations of a resolution to the seven-month-long conflict, which has led to inflation increases and prompted central banks to raise interest rates. US President Donald Trump expressed positive momentum towards ending the war after meeting Qatar's prime minister at the White House, stating that much was discussed regarding Iran. However, he downplayed the likelihood of further military action against Iran, saying it was highly unlikely. AI-linked companies led gains across Asian markets, contrasting with the sector's decline following last Tuesday's Democratic victory in Congress, which raised regulatory concerns. Despite this, traders remain cautious about profitability due to substantial investments in the sector. Notably, Nvidia faced challenges after its CEO, Jensen Huang, admitted to an affair and speculations of a Chinese espionage plot. Technology giants, such as Amazon, Microsoft, and Apple, saw substantial gains in New York on Monday, bolstered by bargain-hunting and confidence in the AI outlook. The Nasdaq soared by 2.7% on Monday, leading a robust Wall Street session, while Asian investors followed suit. Seoul's index rose by 4.5% due to strong advances in chipmakers SK hynix and Samsung, while Tokyo climbed almost 3% on rallies in Kioxia, SoftBank, and Tokyo Electron. Taiwan's TSMC and MediaTek also experienced over 2% gains, contributing to a 2.5% increase in the Taiex. Hong Kong, Shanghai, Sydney, Singapore, Bangkok, Jakarta, and Wellington also recorded higher trading figures. However, SPI Asset Management's Stephen Innes cautioned that the market rally was primarily due to sellers exiting the market, not because investors regained confidence. Innes highlighted that companies receiving significant capital expenditure were outperforming those writing the checks, a trend emerging after last week's indiscriminate liquidation. He noted that hyperscalers, equipment providers, optical networking companies, and selected data-center suppliers could still benefit from existing spending programs, despite investors becoming more selective about the economics of the companies funding these projects.",
  "summary": "Oil prices have fallen around 20% this month as hopes of a US-Iran deal grow, helping fuel a global stock market rally led by technology shares and renewed optimism about AI.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}