Iran Informs Regional Countries of Ceasefire Position; Oil Prices Drop, Gold and Silver Rise, US Stocks Continue Uptrend

On May 1, according to the Islamic Republic News Agency, Iranian Foreign Minister Amir-Abdollahian informed foreign ministers of Gulf countries about Iran’s position on ending the war. As a result, Brent crude oil fell to $107 per barrel, down 2.83% for the day. WTI crude oil dropped by 4% during the day, currently reported at $102.71 per barrel. Spot silver rose over 3% during the day, while spot gold saw a short-term increase of $20. US stocks continued their upward trend, with the Nasdaq up 1%, the Dow Jones up 0.53%, and the S&P 500 index up 0.78%. According to PolyBeats monitoring, the probability of a ‘permanent peace agreement between the US and Iran’ on the prediction market Polymarket has risen to 10% before May 15, 26% before May 31, and 40% before June 30.

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