Share futures ease, dollar gains as Gulf talks teeter

By Wayne Cole

SYDNEY, May 11 (Reuters) - Share futures slipped and the dollar climbed successful Asia connected Monday connected signs that talks betwixt the United States and Iran were deadlocked, leaving ‌the captious Strait of Hormuz each but unopen and sending lipid prices higher.

President Donald Trump ‌on Sunday rejected Iran's effect to a U.S. connection for bid talks to extremity the war, saying Tehran's demands were "totally unacceptable."

An Iranian ​plan sent to the U.S. stressed the request for an extremity to the warfare connected each fronts and the lifting of sanctions connected Tehran, on with reparations and a designation of Iran's power of the Strait, Iranian media reported.

"The struggle successful the Middle East is present entering its 11th week," noted Bruce Kasman, planetary caput ‌of economics astatine JPMorgan. "Energy prices person ⁠surged but stay astatine levels that are headwinds alternatively than expansion-ending obstacles."

"The hazard of a sharper determination rises with each week the Strait of Hormuz stays closed, and ⁠our commodities squad sees operational accent levels starting sometime successful June."

Brent lipid futures rapidly roseate 2.8% successful aboriginal commercialized to $104.06 a barrel, portion U.S. crude gained 2.7% to $97.97 a barrel. [O/R]

The dollar benefited arsenic a store of liquidity during ​risk events, ​edging up 0.2% connected the Japanese yen to 156.88 ​yen, portion the euro dipped 0.2% to $1.1760.

Japan ‌is wagering that a hawkish displacement astatine the Bank of Japan and an endorsement from U.S. Treasury Secretary Scott Bessent tin springiness yen-buying involution other wound and assistance to dilatory the embattled currency's slide.

Both Europe and Japan are large importers of oil, portion the U.S. is simply a nett exporter.

S&P 500 futures slipped 0.3%, portion Nasdaq futures eased 0.2%. Shares had deed grounds highs past week connected the backmost of upbeat firm ‌earnings and a coagulated payrolls report.

Results retired this week see ​tech networking instrumentality steadfast Cisco and semiconductor instrumentality shaper Applied Materials. ​Heavyweights Nvidia and Walmart are owed aboriginal ​in the month.

Japan's stock marketplace was inactive catching up to Friday's leap connected Wall ‌Street, with futures trading astatine 63,475 against ​a currency adjacent of 62,713.

The ​Gulf volition beryllium connected the docket erstwhile Trump visits China from Wednesday, gathering Chinese President Xi Jinping successful their archetypal face-to-face talks successful much than six months.

Trade, Taiwan, artificial quality and atomic ​weapons are each acceptable to beryllium ‌discussed arsenic they measurement extending a captious minerals deal.

In commodity markets, golden slipped 0.5% to $4,690 ​an ounce, having drawn scant enactment arsenic a harmless haven oregon arsenic a hedge against ​inflation risks. [GOL/]

(Reoporting by Wayne Cole; Editing by Edmund Klamann)