Oil eyes weekly drop on Hormuz deal hopes; AI sends stocks to record highs

World stocks stood at record highs on Friday and oil futures eyed the steepest weekly drop for nearly two months as traders waited ​for details on a potential deal to reopen the Strait of Hormuz and extend the U.S.-Iran ceasefire.

May 29, 2026 - 06:00
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Oil eyes weekly drop on Hormuz deal hopes; AI sends stocks to record highs
World stocks stood at record highs on Friday and oil futures eyed the steepest weekly drop for nearly two months as traders waited ​for details on a potential deal to reopen the Strait of Hormuz and extend the U.S.-Iran ceasefire.

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