Crude Oil Market Decline, US Proposes Temporary Waiver on Iran Oil Sanctions, Gold and Silver Rise, Stock Market Up

BlockBeats News, May 18th, according to Bitget market data, both US and Brent oil fell by over $1 in the short term, now trading at $104.49 per barrel and $105.97 per barrel, respectively.

Spot gold saw a short-term rally of approximately $25, now priced at $4560 per ounce; spot silver rose by about $1, trading at $76.76 per ounce.

The Nasdaq 100 index futures quickly narrowed their losses and turned positive. The STOXX Europe 600 index reversed its decline and is currently up by 0.24%.

On the news front, sources close to the negotiating team indicated that the US has agreed in its new draft to lift sanctions on Iranian oil. In a departure from the previous stance, the US has agreed in the new draft to temporarily waive sanctions on Iranian oil during the negotiations.