SINGAPORE, April 27 (Reuters) - Oil prices rose, the dollar inched higher and U.S. stock futures wobbled lower in early Asia trade on Monday after U.S.-Iran peace talks stalled over the weekend,
Oil Jumps, US Stock Futures Dip as US-Iran Talks Stall and Gulf Remains Blocked
Market Reactions to Stalled US-Iran Talks
Oil Prices Surge Amid Gulf Shipping Blockade
SINGAPORE, April 27 (Reuters) - Oil prices rose, the dollar inched higher and U.S. stock futures wobbled lower in early Asia trade on Monday after U.S.-Iran peace talks stalled over the weekend, leaving Gulf shipping blocked.
Benchmark Brent crude futures rose more than 2% to touch a three-week high of $107.97 a barrel. [O/R]
US Stock Futures and Currency Movements
S&P 500 futures eased by a modest 0.3%, after U.S. stocks notched a record closing high at the end of last week. The dollar was higher on major currencies, although not by much, leaving the euro down 0.15% to $1.1706 and the yen marginally weaker at 159.53 per dollar.
Geopolitical Developments in the Gulf
Ceasefire and Strait of Hormuz Blockade
Although a ceasefire has paused full-scale fighting in a war begun by U.S.-Israeli strikes on Iran two months ago, no agreement has been reached on terms to open the Strait of Hormuz which has been all but closed, sending energy prices soaring.
Diplomatic Efforts and Statements
US Envoys and Iranian Diplomacy
U.S. President Donald Trump cancelled a trip to Islamabad by two envoys for talks on the weekend, even as Iran's foreign minister has continued to shuttle between mediating countries.
Trump's Conditions for Talks
"If they want to talk, they can come to us, or they can call us. You know, there is a telephone. We have nice, secure lines," Trump told "The Sunday Briefing" on Fox News.
"They know what has to be in the agreement. It's very simple: They cannot have a nuclear weapon, otherwise there's no reason to meet," Trump said.
Reporting Credits
(Reporting by Tom Westbrook; Editing by Edmund Klamann)
