STORY: Oil climbed on Monday (April 27) while stocks held steady ahead of a busy week of tech earnings.Investors believed U.S.-Iran peace talks signaled more disruption in Middle East energy exports.Benchmark Brent crude future rose more than 2% to touch a three-week high of $108 a barrel in Asian trade.The higher prices have led to inflation worries and seen traders price out rate cuts in developed markets this year.Middle East energy was hit by the conflict in Iran after U.S.-Israeli strikes on the country two months ago, with markets focused on the crucial Strait of Hormuz.The outlook for peace is uncertain.U.S. President Donald Trump said Iran only had to call if it wanted to negotiate an end to the war.Outside of oil, chip stocks rose on renewed excitement about AI spending ahead of a week with tech earnings reports.Intel’s forecast last week for second-quarter revenue beat Wall Street expectations and set off the latest round of buying.South Korean shares hit record on the chipmaker rally.While Japan’s Nikkei closed above the key 60,000 mark for the first timeEurope’s STOXX 600 dipped slightly in early trade.U.S. tech earnings are due in the coming week from giants like Apple, Alphabet and Microsoft.Major central bank decisions are also due around the world in the coming week with investors betting rates are likely to stay on hold.Read More
Global stocks steady; oil climbs on stalled peace talks
