Stocks Drift Lower, Oil Prices Ease Ahead of US-Iran Talks

Investors remain cautious as high-level negotiations loom this weekend

Apr. 11, 2026 at 2:22am

Got story updates? Submit your updates here. ›

An extreme close-up of intricate, metallic oil refinery equipment and pipes, conveying the complex, industrial nature of the global energy system.The global energy crisis sparked by the US-Iran conflict has put a spotlight on the heavy industrial machinery and infrastructure that underpins the world's oil supply.NYC Today

Stocks on Wall Street drifted mostly lower on Friday, with the S&P 500 inching down 0.1%, as investors remained cautious ahead of planned high-level talks between the US and Iran this weekend. Oil prices also slipped, with Brent crude falling 0.8% to $95.20 per barrel, as the market anticipates a potential resolution to the conflict. The market has been volatile in recent weeks due to the impact of the war on inflation and the global economy.

Why it matters

The US-Iran conflict has been a major driver of market volatility and surging inflation in the US, with oil prices spiking sharply since the war began in late February. Investors are closely watching for any signs of a potential resolution that could ease supply chain disruptions and inflationary pressures.

The details

Stocks drifted lower on Friday, with the S&P 500 falling 0.1%, the Dow Jones Industrial Average dropping 0.6%, and the Nasdaq Composite rising 0.4%. Oil prices also slipped, with Brent crude falling 0.8% to $95.20 per barrel. The market remains prone to big swings on developments around the US-Iran conflict, which has disrupted global energy markets and contributed to surging inflation in the US. High-level talks between negotiators from Iran and the US are planned for Saturday in Pakistan, raising hopes of a potential resolution.

  • The US-Iran conflict began in late February 2026.
  • Brent crude oil prices have risen from around $70 per barrel before the war to more than $119 at times.
  • The latest US inflation data for March 2026 showed the biggest spike in four years, with prices at the gas pump jumping.

The players

S&P 500

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

Brent Crude Oil

The international benchmark for crude oil prices.

US and Iran

The two countries engaged in the ongoing conflict that has disrupted global energy markets.

Got photos? Submit your photos here. ›

What they’re saying

“While I'm glad to see the effects to be less than expected in March, the effects in April are now more likely to be worse.”

— Jamie Cox, Managing Partner, Harris Financial Group

What’s next

High-level talks between negotiators from Iran and the US are planned for Saturday in Pakistan, which could provide more clarity on the potential for a resolution to the conflict.

The takeaway

The US-Iran conflict continues to be a major source of market volatility and inflationary pressure, with investors closely watching for any signs of a potential diplomatic breakthrough that could ease supply chain disruptions and stabilize global energy markets.