Oil prices slip and Asian shares mostly gain as US-Iran talks still in doubt
Summary
Oil prices fell slightly while most Asian stock markets rose amid uncertainty about U.S.-Iran talks aimed at ending the war. U.S. President Donald Trump announced Vice President JD Vance would visit Pakistan, but Iran did not agree to continue negotiations after the U.S. Navy seized an Iranian cargo ship.Key Facts
- Brent crude oil price dropped 1% to $94.44 per barrel; U.S. crude fell 1.2% to $86.19.
- Asian stock markets mostly increased: Japan’s Nikkei rose 0.9%, South Korea’s Kospi gained 2.6%, Taiwan’s Taiex went up 1.8%.
- Hong Kong’s Hang Seng index increased by 0.4%, while China’s Shanghai Composite fell 0.1%.
- Australia’s S&P/ASX 200 declined slightly by 0.1%.
- U.S. President Donald Trump said Vice President JD Vance will hold talks in Islamabad, Pakistan.
- Iran showed no commitment to continuing negotiations after the U.S. Navy seized an Iranian-flagged cargo ship.
- A ceasefire agreement between the U.S. and Iran is set to expire Tuesday night, creating uncertainty about peace prospects.
- Oil prices remain below recent peaks despite ongoing war concerns, and U.S. economic indicators show resilience due to consumer spending.
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