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Global stocks surge and oil slides on Iran peace deal report
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- Global stocks surge and oil slides on Iran peace deal report By Harry Robertson Wed, May 6, 2026 at 5:10 PM GMT+7 2 min read CL=F By Harry Robertson
- The report by news outlet Axios said the U.S. expected Iranian responses on several key points in the next 48 hours.
- Brent crude, the global benchmark, dropped 7.5% to $101.70 per barrel.
Global stocks surge and oil slides on Iran peace deal report By Harry Robertson Wed, May 6, 2026 at 5:10 PM GMT+7 2 min read CL=F By Harry Robertson
LONDON, May 6 (Reuters) - Stocks leapt and oil prices dropped on Wednesday after a report said the White House believed it was closing in on a memorandum to end the war with Iran, while momentum in AI-driven trades accelerated.
The report by news outlet Axios said the U.S. expected Iranian responses on several key points in the next 48 hours. A Pakistani source involved in the peace efforts confirmed the report to Reuters on Wednesday.
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