#FOMCMeeting
The oil markets have witnessed clear turmoil due to tensions between Israel and Iran, which pushed Brent crude prices up to around $78 per barrel, before falling to about $72–73 following reports of diplomatic developments. The American markets were slightly affected, with a decline in stock futures after President Trump's warnings to citizens in Tehran. However, optimism returned with reports of Iran's willingness for diplomacy and calming the situation, which pushed Wall Street indices up again by +300 points in Nasdaq and Dow. In Egypt, the EGX30 index recovered on June 16 with slight gains (+0.08%) after a strong correction last week due to regional concerns, supported by local and Arab buying.
Overall, the markets are oscillating between fears of escalating conflict and reflections on calming it, creating opportunities to monitor energy stocks and emerging markets in particular.
