Global markets responded to signs of progress in US-Iran negotiations as oil prices dropped sharply by over 7%, while US and European stock markets surged amid investor hopes for a resolution to the Middle East conflict.
On 7 May 2026 GMT+7, foreign news agencies reported a sharp decline in global oil prices. North Sea Brent crude oil, the global benchmark, fell over 10% during trading, dipping below $100 per barrel (around 3,700 baht) before closing at $101.27 per barrel (approximately 3,750 baht), down 7.8%.
Meanwhile, US stock markets continued to rise strongly, with the S&P 500 closing at a record high for the second consecutive day, and the Nasdaq gaining 2%. European stock markets also gained momentum: Paris rose nearly 3%, while Frankfurt and London closed up more than 2%, fueled by growing investor optimism that the war between Iran and the US may soon end through diplomatic talks.
Earlier, the US news agency Axios, citing two American officials, reported that Washington and Tehran are close to reaching a preliminary one-page memorandum of understanding to end the war and to set the framework for detailed nuclear negotiations. US President Donald Trump told reporters in the Oval Office he believes a deal with Iran is highly likely, as discussions in the past 24 hours have been positive. However, Trump warned that if talks fail, the US may resume military strikes against Iran.
Neil Wilson, an investment strategist from Sazoo UK, stated that the news has boosted confidence that the situation is moving in a positive direction for the global energy market and has encouraged investors to return to buying risk assets, including global stock markets.