Asian stocks are expected to rise, supported by falling crude oil prices after a recent U.S. vote that renewed hopes of a de-escalation in the conflict with Iran. Brent crude has fallen by nearly 10% to below $100 a barrel, while West Texas Intermediate has dropped below $96. The easing of inflationary pressure has contributed to a rise in the S&P 500 and a decline in U.S. Treasury yields. Markets now price in a reduced likelihood of crude oil reaching a new record by December 31, weighing on energy stocks. Investors will monitor developments in U.S.-Iran relations and any comments from OPEC’s Mohammad Sanusi Barkindo and IEA’s Fatih Birol.
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