Oil prices fall and stock markets rise as US-Iran peace talks progress – business live

US-Iran peace-talk progress is easing geopolitical risk premia, pushing Brent down more than 2% to $78.90/bbl from a May peak of $126.41 and lifting Asian equities. The move is a clear risk-on impulse: stocks are higher, energy is softer, and near-term demand for defensive assets is likely reduced. The report says a first round of talks in Switzerland ended positively, with mediators from Qatar and Pakistan saying the sides agreed a roadmap toward a final deal within 60 days. That has calmed weekend fears around renewed conflict and a possible Strait of Hormuz closure, which had been a key driver of market anxiety. For precious metals, the implication is modestly bearish in the very near term via lower geopolitical hedging demand and better risk sentiment. Any gold support from residual uncertainty will likely depend on whether the talks stall again; today’s key macro catalyst is Christine Lagarde’s ECB appearance later in the session.