The world is in great need of good news and tonight there was one, with all the doubts and uncertainties that it entails: there is a ceasefire between the United States, Israel and Iran. The agreement to silence the weapons is immediate and the negotiations to make it permanent begin on Friday in Pakistan, a country that acts as a mediator and that tonight has snatched two weeks of calm from the parties.
The US approval for the pact came 90 minutes after the end of US President Donald Trump’s ultimatum to completely open the Strait of Hormuz or, otherwise, he would end Iranian “civilization” “in one night.” The red line, never heard from the leader of the most powerful nation on the planet, has remained uncrossed.
The early morning news has generated immediate relief in the populations of the Middle East, who will not have to look at the sky waiting for an attack, but also in the oil markets and stock markets, sensitive to a crisis that exceeds those known in the 70s of the last century. Despite everything, there are severe economic projections due to energy instability and commercial reconfiguration that may reach 2030. Maritime flows and damaged energy plants must be recovered, all expensive and all slow.
The barrel of Brent oil for delivery in June sank more than 12% this Wednesday, reaching $95 on the London futures market, after the expected agreement. At 7:00 a.m. this Wednesday, and according to Bloomberg data collected by EFE, the price of Brent fell 12.55%, to $95.53 per barrel.
During this morning, after learning that this agreement had been reached when the deadline for the ultimatum that Donald Trump had given to Iran was about to expire, oil fell by up to 16% and hit a minimum of $91.70.
In the same way as Brent, Texas intermediate oil (WTI) falls sharply this Wednesday before the official opening of the market in the United States. It fell 14.48%, to $94.9. The Brent already closed the day before with a slight drop of 0.46%, to $109.27, while the market was closely awaiting the expiration of the ultimatum imposed by the White House.
Asia, in green and Europe, stretching
The main Asian stock markets also registered strong advances after the two-week ceasefire agreed by the United States and Iran, while the European stock market futures pointed to gains of more than 5% just over an hour before their opening.
Specifically, the Japanese Nikkei rose 5.3%, while the South Korean Kospi rose 6.7%. For its part, China’s Shenzhen index appreciated 4.1% and the Hong Kong Stock Exchange, which today returned to activity after several holidays, advanced more than 3%.
The futures of the European stock markets also pointed to strong gains at the opening of this Wednesday, more than 5% in the case of the Euro Stoxx 50 and the Frankfurt Stock Exchange, and more than 2% in the rest of the places on the Old Continent.
In the United States, Dow Jones futures registered increases of 2.3% and Nasdaq futures of 3.2%.
In Spain, the Ibex 35 will start today from 17,444 points after closing yesterday with a decrease of 0.64%.
From now on
Donald Trump has agreed to suspend attacks against Iran for a period of two weeks, as long as the Central Asian country accepts the “total, immediate and safe” opening of the Strait of Hormuz.
The US president, in a message published through his social network, has specified that “it will be a reciprocal ceasefire” and has justified this decision in that the US has “met and exceeded all military objectives” after the surprise offensive launched together with Israel against Iran on February 28.
In addition, Trump has guaranteed that a “definitive agreement on long-term peace with Iran and in the Middle East” is “very advanced” adding, in turn, that the Islamic Republic has sent a “10-point proposal” that could serve as a “viable basis on which to negotiate.”
For their part, the Iranian authorities announced early this Wednesday that “safe” passage through the strategic Strait of Hormuz will be possible for two weeks, although “through coordination” with the Asian country’s Army.
Shipping traffic around the Strait of Hormuz, through which a fifth of the world’s oil and gas circulates, has been one of the hottest points of the war. Iran implemented a de facto closure of this maritime passage, although the Central Asian country allowed traffic to ships not aligned with its enemies.
Trump had warned Iran that if it did not reopen this strategic passage, the country could be devastated “in one night,” threatening to blow up bridges and attack its power plants to take the country “to the Stone Age.”
