Stocks sink and oil rises with Iran, US no closer to peace talks [Yahoo! Finance]
NATL AUSTRALIA BK S/ADR (NABZY)
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Source: Yahoo! Finance
ATTA KENARE/AFP/AFP Asian stocks fell and oil prices rose Thursday as the United States and Iran appeared no closer to holding fresh peace talks and Tehran continued to refuse to reopen the Strait of Hormuz. Hopes that the two would meet for a second round of negotiations in Pakistan have dissipated, with the Islamic republic targeting three container ships in the waterway and citing Washington's blockade as its reason for keeping it closed. Investors have spent most of the week upbeat that a breakthrough to end the seven-week conflict will be made soon, while healthy earnings and a resumption of the AI trade has also provided support. Crude prices jumped as much as four percent in early Asian business after global security monitors and Iran's Revolutionary Guards said Iranian forces had seized two ships and fired on a third in the Strait of Hormuz. Tehran has said vessels must seek permission to leave or enter the Gulf through the waterway, which in peacetime accounts for
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