Stocks Dip, Oil Prices Fluctuate After Trump Delays Iran Bombing Threat

Investors remain concerned about the impact of the ongoing Middle East conflict on global energy supplies and markets.

Mar. 27, 2026 at 3:35am

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Stocks in Asia mostly fell on Friday despite President Trump's decision to delay an imminent deadline to begin attacking Iran's power grid. The price of oil, after jumping to its highest level this week, pulled back slightly. The S&P 500 is on course for its fifth straight week of losses, and the war continues to pressure bond yields, raising concerns over housing affordability and inflation.

Why it matters

The ongoing conflict in the Middle East has had a significant impact on global energy markets, with the Strait of Hormuz - a vital trading route for oil and natural gas - effectively halted since the war began. This has led to a spike in energy prices and concerns about lasting damage to the global economy.

The details

Stocks in South Korea and Taiwan were the worst performers in Asia, down 2.5% and 1.5% respectively. The Nikkei 225 in Japan fell about 1%. Brent crude oil was around $107 per barrel on Friday, down slightly from Thursday's jump to $108.01. West Texas Intermediate crude was around $94 per barrel. U.S. gas prices ticked down less than a penny on Thursday to remain around a national average of $3.98 per gallon, up 34% since the start of the war. Diesel prices have increased even more quickly, rising to $5.38, up 43% since the conflict began.

  • On Thursday, after the S&P 500 had its biggest daily decline since January, Mr. Trump announced that he would extend the deadline by 10 days.
  • The S&P 500 is on course for its fifth straight week of losses for the first time in four years.

The players

President Trump

The President of the United States who announced the delay in the deadline to attack Iran's power grid.

S&P 500

A stock market index that tracks the performance of 500 large-cap U.S. publicly traded companies.

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What they’re saying

“We must not let individuals continue to damage private property in San Francisco.”

— Robert Jenkins, San Francisco resident

What’s next

The judge in the case will decide on Tuesday whether or not to allow Walker Reed Quinn out on bail.

The takeaway

This case highlights growing concerns in the community about repeat offenders released on bail, raising questions about bail reform, public safety on SF streets, and if any special laws to govern autonomous vehicles in residential and commercial areas.