Asian Equities Rise, Oil Stable Ahead of U.S.-Iran Talks

Investors hopeful that negotiations will lead to long-term deal on oil supply

Apr. 10, 2026 at 3:49am

Got story updates? Submit your updates here. ›

An abstract illustration featuring bold, geometric shapes in primary colors, conceptually representing the interconnected global energy markets and trade routes affected by the ongoing tensions in the Middle East.Geometric shapes and colors symbolize the complex web of global energy markets and trade routes, as the world watches for a breakthrough in U.S.-Iran negotiations.Washington Today

Asian equities rose and oil prices were relatively stable early Friday, as the U.S. raced to keep Israel's war in Lebanon from jeopardizing the fragile cease-fire and derailing talks with Iran this weekend. President Trump asked Israeli Prime Minister Benjamin Netanyahu to scale back attacks on Lebanon as he was concerned the fighting could undermine the cease-fire and efforts to open the Strait of Hormuz. The U.S. and Iran are set to start talks in Pakistan this weekend, with Vice President JD Vance leading the U.S. delegation.

Why it matters

The talks between the U.S. and Iran are seen as crucial for stabilizing oil supply and prices, which have been volatile due to geopolitical tensions in the region. A successful outcome could help ease concerns about potential disruptions to global energy markets.

The details

Although the cease-fire appears to be largely holding, traffic at the key Strait of Hormuz waterway remains mostly blocked, with only eight ships crossing on Thursday compared to the usual 135 daily transits. An Iranian lawmaker said Tehran was charging some ships $2 million to pass through the strait. Oil prices were relatively stable as market participants hope the U.S.-Iran talks will bring a long-term deal. Brent crude oil was 0.8% higher at $96.63 a barrel and WTI crude was up 1.0% at $98.88 a barrel.

  • The U.S. and Iran are set to start talks in Pakistan this weekend.
  • Only eight ships crossed the Strait of Hormuz on Thursday, far below the usual 135 daily transits.

The players

President Trump

The President of the United States who asked Israeli Prime Minister Benjamin Netanyahu to scale back attacks on Lebanon.

Benjamin Netanyahu

The Prime Minister of Israel.

JD Vance

The Vice President of the United States leading the U.S. delegation in the talks with Iran.

Hamad Hussain

An economist at Capital Economics.

ANZ Research analysts

Analysts at ANZ Research.

Got photos? Submit your photos here. ›

What they’re saying

“Even if the strait reopens, it will take some time for supplies to reach the international market.”

— ANZ Research analysts

“WTI's premium over Brent has widened amid significant near-term tightness in the oil market due to the loss of supply from the Middle East and expectations that conditions will loosen over the next couple of months.”

— Hamad Hussain, economist

What’s next

The U.S. and Iran are set to continue their talks in Pakistan this weekend, with the goal of reaching a long-term deal to stabilize oil supply and prices.

The takeaway

The fragile cease-fire in the Middle East and the upcoming U.S.-Iran talks are crucial for the stability of global energy markets. A successful outcome from the negotiations could help ease concerns about potential disruptions to oil supply and lead to more predictable pricing for consumers and businesses.