Dow Futures rise as investors anticipate a resolution to the Iran conflict. Oil prices linger near $100 a barrel, down from recent peaks but still well above pre-war levels, as traders assess the chances of reopening shipping through the Strait of Hormuz.
Dow futures rose Thursday, hinting at continued gains from the previous session, driven by optimism for an end to the Iran war. At 03:39, the index rose 113 points (0.2%), futures gained 15 points (0.2%), and another index increased by 77 points (0.3%). S&P 500 and tech stocks hit new highs Wednesday, fueled by news of a potential U.S.-Iran deal to end their two-month conflict. Chipmaking stocks surged, fueled by strong returns, signaling that the AI enthusiasm boom is still going strong. AI server maker surged over 24% on a positive quarterly revenue forecast. Analysts noted, “Stocks soared due to Iran optimism, robust earnings, and more support for AI enthusiasts.”
Washington and Tehran are reportedly collaborating with mediators on a concise framework to restart talks for a lasting peace deal. Discussions may start next week in Pakistan, sources say. A monthlong process will aim to settle disputes over Iran’s nuclear goals and sanctions relief. Key disagreements linger on nuclear enrichment and inspections. President Trump claimed at the White House on Wednesday that the U.S. has “won” the war and described recent talks with Tehran as “very good.” Trump stated earlier that the U.S. operation with Israel against Iran, initiated in late February, would conclude if Tehran complies with the agreed terms, though he provided no further details. He threatened renewed attacks if an accord isn’t reached. Iran delivers mixed signals. Iran’s foreign minister says officials are considering a U.S. proposal and will share their thoughts with Pakistan, a regular mediator between Washington and Tehran. An Iranian official labeled the U.S. peace plan as merely an American wish list, according to other reports. Iran is expected to respond to mediators by Thursday.
Oil prices are fluctuating near $100 a barrel as traders assess the impact of the prolonged closure of the Strait of Hormuz. The global benchmark recently dipped 2% to $99.23 a barrel. Energy prices have surged since the conflict began, primarily due to the closure of the strait, a key route for about 20% of the world’s oil. Oil prices remain high, even after the recent dip, staying above pre-war levels. Gas prices in the U.S. have surged past $4.50 a gallon, reaching heights not seen since the peak of the COVID-19 pandemic in 2022. Trump is surprised oil prices haven’t soared, stating he expected them to hit “$200, $250.” Despite crude reaching new heights, he claimed the war in Iran was “worth it.”
Washington and Beijing may soon start official talks on artificial intelligence, sources say. AI could be on the agenda for next week’s U.S.-China summit in Beijing between Trump and Xi Jinping. Both sides are focused on the risks of erratic AI models, autonomous military systems, and non-state actors launching AI-driven attacks, as the report highlighted. Scott Bessent, Treasury Secretary, will head U.S. AI talks, while China has yet to name its representative.
Shell’s Q1 2026 earnings hit $6.92 billion, surpassing the $6.36 billion forecast and up from $5.58 billion last year. Profit soared due to robust trading, optimization in Downstream and Renewables, higher prices, better refining margins, and reduced operating costs, the company reported. The oil giant reduced its quarterly share buyback to $3 billion, down from $3.5 billion last quarter. Adjusted EBITDA climbed to $17.7 billion from $15.3 billion last year, with cash flow from operations at $6.1 billion, impacted by a $11.2 billion working capital outflow due to commodity price shifts on inventories and receivables. Shell’s stock dips in Europe.