Oil prices pushed higher again as uncertainty around the Middle East ceasefire and stalled US-Iran talks kept markets on edge.
Brent crude rose 0.6% to above $105 per barrel, while US crude gained 0.3% to $96.
On Wall Street, equities pulled back after earlier strength. The S&P 500 fell 0.4% after touching a record high, while the Nasdaq Composite dropped 0.9% and the Dow Jones Industrial Average declined 0.4%.
Donald Trump has extended the ceasefire between Israel and Lebanon by three weeks but signalled no urgency to strike a broader agreement with Iran, keeping uncertainty high.
Ipek Ozkardeskaya of Swissquote said geopolitical risks remain elevated, noting reports of US naval activity involving Iranian oil shipments and continued tensions in the Strait of Hormuz.
Global markets were mixed, reflecting a fragile investor mood. MSCI’s Asia-Pacific index ex-Japan reversed early losses to rise 0.5%, putting it on track for a roughly 1% weekly gain. Japan’s Nikkei 225 climbed 0.9%, while equities in South Korea and China weakened and Hong Kong’s Hang Seng Index was little changed.
The choppy performance highlights how sentiment continues to swing between optimism over a potential end to the conflict and concern that tensions could persist.
