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Oil is climbing Wednesday after President Trump flatly denied offering Iran any sanctions relief during ongoing nuclear negotiations. That denial reintroduced supply risk premium into crude, pushing prices higher as traders reassess the likelihood of Iranian barrels returning to global markets anytime soon. Qatar's parallel push for peace talks added further uncertainty to the outlook.
Shifting to pharma, Takeda is posting a meaningful clinical win today after its experimental psoriasis drug zasocitinib outperformed Bristol Myers Squibb's deucravacitinib in head-to-head Phase three trials, delivering superior skin clearance results. That kind of direct comparative data is rare and commercially significant, strengthening Takeda's position in a crowded dermatology pipeline.
Meanwhile, Roche secured FDA Priority Review acceptance for its multiple sclerosis drug fenebrutinib, covering both relapsing and primary progressive forms of the disease. Priority Review status compresses the standard review timeline and signals the agency sees meaningful potential benefit, giving Roche a clearer runway toward a potential approval decision within the coming months.
That's the tape. Markets Desk, signing off the floor.
