President Trump described negotiations with Iran as 'constructive' while simultaneously showcasing military actions against Iranian ships, creating uncertainty in the market. The potential deal could lead to the opening of the Strait of Hormuz and the unfreezing of Iranian assets, but Tehran's demands regarding enriched uranium pose significant challenges.
As a result, oil prices have dropped, with U.S. West Texas Intermediate futures falling nearly 5% to $91.79 and Brent crude dipping below $100 for the first time in over a month. The ongoing conflict is also impacting Gulf nations' ambitions in AI and infrastructure investments, as investor confidence wanes.
Additionally, South Korea's deputy prime minister highlighted the need for AI-generated wealth to benefit the public, reflecting broader concerns about inequality and job displacement in the tech era