By Johann M Cherian and Ankur Banerjee
Aug 26 (Reuters) - Global stocks edged up and weaker oil prices pushed bond yields lower on Wednesday on hopes that the vital Strait of Hormuz could soon reopen, while investors awaited U.S. inflation data and another pivotal earnings report from AI heavyweight Nvidia.
Iran and Oman said they had discussed "a joint temporary navigational corridor" through the Strait of Hormuz and agreed to clear it of mines, rejuvenating hopes for a breakthrough in the nearly six-month conflict that has roiled oil markets and stoked global inflationary worries.
Brent crude futures fell for a third straight day on Wednesday, sliding nearly 3% to $85.95 per barrel on the prospect of more supply coming through the Strait, which handled a fifth of the world's traded oil before the war.
That helped push short-term bond yields, sensitive to central bank interest rate expectations, lower.
#nearly
Aug 26 (Reuters) - Global stocks edged up and weaker oil prices pushed bond yields lower on Wednesday on hopes that the vital Strait of Hormuz could soon reopen, while investors awaited U.S. inflation data and another pivotal earnings report from AI heavyweight Nvidia.
Iran and Oman said they had discussed "a joint temporary navigational corridor" through the Strait of Hormuz and agreed to clear it of mines, rejuvenating hopes for a breakthrough in the nearly six-month conflict that has roiled oil markets and stoked global inflationary worries.
Brent crude futures fell for a third straight day on Wednesday, sliding nearly 3% to $85.95 per barrel on the prospect of more supply coming through the Strait, which handled a fifth of the world's traded oil before the war.
That helped push short-term bond yields, sensitive to central bank interest rate expectations, lower.
#nearly
18 days ago
