Good morning, this is Markets Desk with your midday briefing.
Washington says it has reached a deal with Tehran to halt strikes and resume diplomatic talks, though Iran has yet to formally confirm the arrangement. The agreement comes as tit-for-tat attacks were threatening to fracture a fragile truce in the Strait of Hormuz, one of the world's most critical chokepoints for energy flows.
The situation in the Gulf grew sharper this morning after a Saudi Aramco helicopter crashed at Ras Tanura port, killing at least fourteen people. The timing is significant — Ras Tanura is one of the largest oil export terminals on the planet, and the incident landed just hours after US-Iran strikes had already rattled confidence in regional stability. Crude traders will be watching closely.
Meanwhile, Venezuela's Maduro-backed government is facing a mounting domestic crisis after an earthquake exposed the deep dysfunction of the Chavismo state. Anger is growing over the regime's inadequate rescue response, and with US-backed leadership already under pressure, the political fallout could complicate any near-term economic normalization that markets had quietly been pricing in.
That's the tape. Markets Desk, signing off the floor.
