Asian markets gained after Donald Trump postponed attacks on Iranian energy sites and touted “very good” talks with Tehran, though crude prices remained volatile amid doubts over de-escalation.
Brent crude briefly dropped 14 pc to US$96 after Trump’s surprise five-day pause on strikes, sparking Wall Street gains of over 1 pc.
Optimism faded after Iranian officials denied any talks, and the Strait of Hormuz remained effectively closed.
Markets in Tokyo, Hong Kong, Shanghai, Sydney, Seoul, Taipei, and Manila opened higher, while Singapore and Wellington fell. Crude rebounded over 3 pc, reflecting investor skepticism.
The US dollar strengthened against major currencies.
Analysts warned that short-term headlines cannot fix disrupted shipping lanes, refining capacity, or tanker insurance issues.
Meanwhile, Saudi Arabia and the UAE weigh involvement after Iran’s attacks, and the EU and Australia finalized a free trade and defence cooperation deal.
