Global stock markets extended their gains on June 13, 2026, tracking toward a positive week as optimism surrounding the US-Iran peace deal buoyed investor sentiment. Wall Street initially edged higher at the open but wavered throughout the session amid conflicting reports on the exact timing and scope of the agreement. Nevertheless, the broader trend remained firmly upward as traders priced in the possibility of a diplomatic resolution to the conflict that has roiled markets for months.
Oil prices fell sharply on the news, with crude declining approximately 2 percent to near $85 per barrel. West Texas Intermediate settled at $84.29 while Brent crude closed at $82.25. The decline reflects market expectations that a finalized peace deal would lift sanctions on Iranian oil exports and reopen the Strait of Hormuz, through which roughly 20 percent of the world's petroleum supply flows. Analysts note that the return of Iranian barrels to global markets could push prices significantly lower in the coming weeks.
Gold held firm at $4,239.90 per ounce, reflecting persistent uncertainty despite the diplomatic progress. Investors continued to maintain safe-haven positions even as risk appetite improved across equity markets. The precious metal has served as a key hedge throughout the Iran conflict, and traders appear reluctant to abandon those positions until a deal is formally signed and implemented.
The Federal Reserve remains a central concern for markets. According to the CME FedWatch tool, there is a 70 percent probability of at least one 0.25 percent rate hike by the December 2026 meeting. Resilient economic growth combined with higher energy costs throughout the year have kept inflationary pressures elevated, meaning the Fed may need to maintain or even tighten its policy stance despite hopes for rate relief.
The technology sector continues to dominate market performance, accounting for nearly half of all expected earnings growth among US companies. Market returns remain heavily concentrated in tech and artificial intelligence-related industrial companies, a pattern that has persisted throughout 2026. This concentration has raised concerns among some analysts about market breadth and the sustainability of the rally should tech earnings disappoint.
The peace deal's potential impact extends well beyond energy markets. Airlines, shipping companies, and travel-related stocks all posted significant gains as investors anticipated the normalization of routes through the Persian Gulf region. Insurance costs for vessels transiting the area could decline substantially, providing relief to global supply chains that have been strained by elevated risk premiums and longer alternative routes.
Looking ahead, market participants remain cautiously optimistic but acknowledge that significant risks persist. The deal has not yet been formally signed, and previous diplomatic breakthroughs during the conflict have faltered. A successful implementation of the ceasefire extension and Hormuz reopening would likely trigger further gains across global markets, while any setback could rapidly reverse the recent positive momentum.
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