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Singapore Shares Open Higher as US Eases Sanctions on Iranian Oil

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Singapore shares opened higher on Tuesday, as investors turned optimistic after the U.S. partially eased sanctions on Iranian oil exports the previous day.

The Straits Times Index (STI), a key benchmark for the Singapore Exchange, rose 0.2%, or 10.42 points, to open at 5,214.440.

The U.S. Treasury on Monday issued a 60-day sanctions waiver, making the way for Iranian oil production, deliveries, and sales to the U.S.

The move comes after encouraging reports from mediators Qatar and Pakistan and U.S. Vice President JD Vance on the talks in Switzerland between Washington and Tehran aimed at securing a peace agreement and restoring oil traffic via the key waterway Strait of Hormuz.

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