Global Oil Prices Plunge Below $100, US Stock Futures Rise, Intel Gains Over 2% Pre-Market, Gold and Silver Surge

Deep News05-18 21:36

On the evening of May 18, international oil prices experienced a rapid decline. As of 20:43 Beijing time, Brent crude oil futures extended their losses to 1%, trading at $108.169 per barrel. WTI crude fell below $100 per barrel, dropping 1.01% for the day.

Gold and silver prices rose sharply. Spot gold surged approximately $35 in a short period, reaching $4,563.22 per ounce, up 0.5% for the day. Spot silver increased by over 2%, currently trading at $77.47 per ounce.

Futures for the three major US stock indices all turned positive. Multiple chip-related stocks saw gains across the board. Nvidia and Intel both rose more than 2%.

According to a source close to the US-Iran negotiation teams, the US has agreed in the latest draft of the negotiation text to "exempt" Iran from oil sanctions during the talks, meaning the US will temporarily suspend sanctions. Iran has emphasized that the removal of all sanctions against it must be part of the US commitment. However, the US proposal involves temporary exemptions implemented by the Office of Foreign Assets Control (OFAC) of the US Treasury Department before a final understanding is reached. As of now, neither the US nor Iran has officially confirmed this news.

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