Oil edges higher as equities fluctuate on war talks uncertainty

Global Market Oil Prices – (Web Desk) – Oil prices went up Thursday, while stock markets showed mixed results. Investors were watching closely as the situation in the Middle East continued. Iranian officials reportedly responded to US demands to end the ongoing conflict, which has raised fears of an energy crisis.

Markets improved since Monday after US President Donald Trump stepped back from threatening Iran’s energy infrastructure. He also said both sides were in peace talks.

Crude oil is still below last week’s levels, and trading floors are calmer than earlier in March. But uncertainty remains. The Strait of Hormuz, a key route for about 20 percent of the world’s oil and gas, is nearly closed, keeping the risk high.

Washington offered a 15-point plan to end the war, asking Iran to give up enriched uranium and reopen the waterway. Tehran, meanwhile, shared five conditions to stop hostilities.

Trump warned Iran could face severe consequences if no deal is reached. But Iranian Foreign Minister Abbas Araghchi said they do not plan to negotiate. Trump said the denials happen because negotiators fear retaliation from their own side.

Experts say Iran still holds leverage through energy and shipping control. Markets know that public statements may differ from private talks. Investors remain cautious but hopeful that an agreement might be possible.

Brent crude has stabilized above $100 per barrel, and WTI is around $90. Stock markets are also calmer. Wall Street and Europe gained, while many Asian markets like Tokyo, Hong Kong, and Shanghai fell. Singapore, Wellington, and Taipei rose, while Sydney stayed flat.

Analysts say real progress will need signs of de-escalation, including reopening the Strait of Hormuz. The head of the International Chamber of Commerce warned this conflict could trigger the worst industrial crisis in decades.

“The head of the International Energy Agency has warned that the world is facing an energy crisis more severe than the oil shocks of the 1970s,” he added.

“From a business perspective, we believe this could yet become the worst industrial crisis in living memory.”

Peace talks with Iran and the role of Pakistan

Meanwhile, the World Trade Organization said disruptions to fertilizer supplies posed a double threat to global food security through scarcity and high prices, with a third of the global fertilizer supply normally transiting the Strait of Hormuz.

– Key figures at around 0230 GMT –

West Texas Intermediate: UP 1.2 percent at $91.41 a barrel

Brent North Sea Crude: UP 1.0 percent at $103.25 a barrel

Tokyo – Nikkei 225: DOWN 0.2 percent at 53,658.47 (break)

Hong Kong – Hang Seng Index: DOWN 1.3 percent at 25,004.70

Shanghai – Composite: DOWN 0.4 percent at 3,916.10

Euro/dollar: DOWN at $1.1560 from $1.1565 on Wednesday

Pound/dollar: DOWN at $1.3353 from $1.3365

Dollar/yen: UP at 159.49 yen from 159.47 yen

Euro/pound: UP at 86.57 pence from 86.52 pence

New York – Dow: UP 0.7 percent at 46,429.49 (close)

London – FTSE 100: UP 1.4 percent at 10,106.84 (close)