Oil rises on US-Iran deadlock as shares turn jittery

Global oil prices rose on Friday (April 24) as markets reacted to a prolonged US–Iran standoff and ongoing disruptions in the Strait of Hormuz, while equities traded unevenly amid persistent geopolitical uncertainty.

Brent crude futures climbed 0.55% to $105.65 a barrel, while US West Texas Intermediate gained 0.25% to $96.09, supported by concerns over shipping security in the vital energy chokepoint of the Strait of Hormuz, Caliber.Az reports via foreign media.

The rise in oil came as investors remained focused on a fragile ceasefire environment and stalled diplomatic efforts between Washington and Tehran. Market sentiment was further unsettled by reports of heightened naval activity in the region and warnings over maritime security risks.

Global equities showed a mixed picture. Asian markets ended the session unevenly, with Japan’s Nikkei advancing while Chinese and South Korean indices slipped. European futures pointed lower, with the EUROSTOXX 50, FTSE, and DAX all in negative territory ahead of the opening bell. US equity futures were marginally higher or flat.

Analysts said markets were struggling to find direction amid conflicting signals on de-escalation prospects. “It’s not going to be a linear de-escalation of violence and oil prices and volatility,” one strategist noted, pointing to continued uncertainty around energy supply risks.

Currency markets were comparatively subdued, although the US dollar remained supported by safe-haven demand. The Japanese yen hovered near the psychologically significant 160-per-dollar level, raising the prospect of possible intervention from authorities.

Attention is also turning to upcoming central bank meetings, including the Federal Reserve, European Central Bank, and Bank of England, where policymakers are expected to assess the inflationary impact of higher energy prices linked to geopolitical tensions.

By Aghakazim Guliyev