Oil steadies and Asian stocks are mostly lower on mixed signs on Iran
AP News • • general
Key Points:
- Asian stock markets mostly declined amid mixed signals about the de-escalation of the Iran war, with Tokyo’s Nikkei down 1.2% and South Korea’s Kospi dropping 3.4%, while Australia’s S&P/ASX 200 rose 0.7%.
- Oil prices steadied, with Brent crude near $107.36 per barrel and U.S. crude around $102.94, after surging more than 40% since the Iran war began in late February.
- A drone attack on a Kuwaiti oil tanker in Dubai waters caused a fire, and Gulf allies urged the U.S. to continue pressure on Iran, while President Trump mentioned negotiations with Iran’s parliamentary speaker, which Iran denied.
- Maritime disruptions at the strategic Strait of Hormuz remain a significant concern for global energy supplies, with U.S. officials indicating that the Trump administration has various options to respond to Iran’s control threats.
- On Wall Street, stocks were mixed with the S&P 500 and Nasdaq down slightly, while the Dow inched up; gold and silver prices increased, and the U.S. dollar showed minor fluctuations against the yen and euro.
