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European shares closed lower on Tuesday as investors assessed the latest developments in the Iran war and a flurry of corporate earnings reports.
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Negotiations to end the war appear to have hit an impasse over Iran's nuclear future. Without a deal in place, the Strait of Hormuz remains mostly shut.
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The Gulf government has long complained about the group's quotas, which officials believe unfairly limited its exports. Its departure is expected to weaken OPEC's influence.
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The departure weakens the Organization of the Petroleum Exporting Countries, long criticized by Trump, as the global economy reels from the Iran war energy shock.
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Even the largest global supplier of liquefied natural gas can't make up for the shortfall since the war in Iran cut off an important source.
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Two months after the U.S.-Israeli attack on Iran started the war, peace talks are on hold, with control of the Strait of Hormuz and the future of Iran's nuclear program as the two main points of contention.
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The United States showed little immediate enthusiasm for a new Iranian proposal that would end the war and reopen the Strait of Hormuz without resolving the impasse over the Islamic Republic's nuclear program.
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Who is England newcomer Tilly Corteen-Coleman, and what does she offer Charlotte Edwards as the team's third left-arm spinner?
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