Europe Asia News

According to İkon Menkul’s analysis, the White House denied claims that a fixed deadline had been set for Iran to reach an agreement, stating that the timing of a ceasefire would be determined by U.S. President Donald Trump. Iran, on the other hand, announced that the Strait of Hormuz could not be reopened as long as ceasefire violations continue.

Trump stated that positive news regarding new peace talks between the U.S. and Iran could come by Friday, while Pakistani sources pointed to the possibility of new contacts within 36 to 72 hours. It was also reported that Ukrainian President Volodymyr Zelenskyy called for trilateral negotiations involving the United States.

In the report, U.S. Treasury Secretary Scott Bessent said that some Gulf and Asian countries had requested swap lines, and announced that sanctions exemptions for certain petroleum products shipped from Iran and Russia had been extended by 30 days.

In the U.S., crude oil inventories increased by 1.925 million barrels last week, while Russia extended its fertilizer export quota until the end of the year. It is also noted that expectations for a Federal Reserve rate cut could be postponed to the end of the year due to rising energy prices.

Regarding corporate earnings, Tesla and IBM reported first-quarter results above expectations, while Tesla announced plans to use Intel’s next-generation manufacturing technology.

Accordingly, preliminary PMI data released in Japan and Australia pointed to a recovery in economic activity, while the euro remained under pressure following Germany’s downward revision of its growth forecast.