TheJakartaPost
Please Update your browser
Your browser is out of date, and may not be compatible with our website. A list of the most popular web browsers can be found below.
Just click on the icons to get to the download page.
Popular Reads
Top Results
No results found. Please check your search term and try again
Can't find what you're looking for?
View all search results
Popular Reads
Top Results
No results found. Please check your search term and try again
Can't find what you're looking for?
View all search resultsOil drops, stocks climb as Trump delays Iran move
Change text size
Gift Premium Articles
to Anyone
Share the best of The Jakarta Post with friends, family, or colleagues. As a subscriber, you can gift 3 to 5 articles each month that anyone can read—no subscription needed!
Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, US, on April 24, 2025. (Reuters/Brendan McDermid)
Oil prices retreated Friday while US and European stock markets gained ground as concerns over a war escalation in Iran eased.
International crude benchmark contract Brent dropped more than two percent, weighing on the share prices of energy majors, after US President Donald Trump said Thursday that he would decide whether to join Israel's strikes on Iran within the next two weeks.
Traders said it suggested Trump preferred negotiations to end the fighting, as top European diplomats met Iran's Foreign Minister Abbas Araghchi in Geneva on Friday to discuss a "diplomatic solution" to end the war.
US indices opened slightly higher Friday, though analysts said volumes were likely to be lacklustre with many traders taking a four-day weekend after Thursday's Juneteenth holiday.
European stock markets were up in afternoon deals while Asian equity indices closed out the week mixed.
"News that president Trump would delay any decision on joining Israel's attacks against Iran has boosted the market mood," said Kathleen Brooks, an analyst at trading firm XTB.
"Brent crude has dropped... as traders price out the worst-case scenario for geopolitics," she said.
Crude futures had soared and global equities slumped in recent sessions as the Israel-Iran conflict showed no signs of easing, with investors pricing in the risk of tighter oil supplies that would likely weigh on economic growth.
"While the immediate prospect of a US intervention in Iran may have diminished, the fact this is reportedly a two-week hiatus means it will remain a live issue for the markets going into next week," said Dan Coatsworth, an investment analyst at AJ Bell.
"A meeting of European ministers with their Iranian counterparts to try and formulate a deal today could be crucial."
While the Middle East crisis continues to absorb most of the news, Trump's trade war remains a major obstacle for investors as the end of a 90-day pause on his April 2 tariff blitz approaches.
"While the worst of the tariffs have been paused, we suspect it won't be until those deadlines approach that new agreements may be finalized," said David Sekera, chief US market strategist at Morningstar.
"Until then, as news emerges regarding the progress and substance of trade negotiations, these headlines could have an outsize positive or negative impact on markets," he said.
In Europe, Eutelsat shares soared 27 percent on the Paris stock exchange after the French government said it would lead a 1.35 billion euros (US$1.5 billion) in the European satellite operator.
French President Emmanuel Macron urged a "speedy reconquest" for Europe in the space sector in the face of growing American competition, in a speech at the Paris Air Show.
