- Brent crude oil prices initially fell to $94.55 a barrel on Thursday morning, influenced by reports that Iran might allow free passage through the Strait of Hormuz as part of negotiations with the United States.
- However, oil prices later rose to $95.23 a barrel due to supply concerns following a major oil refinery fire in Australia.
- Asian stock markets climbed, with Japan's Nikkei reaching a new record high, driven by optimism surrounding a potential deal with Iran and strong corporate earnings.
- This positive trend followed a strong performance on Wall Street, where the S&P 500 and Nasdaq reached record highs after robust quarterly results from Bank of America and Morgan Stanley.
- Approximately 84 per cent of companies that have reported earnings to date have surpassed analyst expectations, contributing to market optimism.
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