Asian Stocks Slip, Oil Falls on Trump Optimism Over Iran Ceasefire

Investors hopeful about potential deal to reopen Strait of Hormuz, though details remain uncertain.

Apr. 17, 2026 at 12:54am

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An abstract composition of overlapping triangles and circles in shades of blue, red, and yellow, conceptually representing the interconnected global energy markets.Geometric abstraction represents the complex global energy landscape as negotiations continue to reshape oil and gas supply.NYC Today

Asian shares opened lower on Friday, while oil prices declined after US President Donald Trump expressed optimism regarding securing a permanent ceasefire with Iran, ahead of the current truce's expiry next week. Global crude benchmark Brent declined 1.4% to around $98 a barrel. Investors are betting continued negotiations may reopen the Strait of Hormuz, easing oil and inflation and supporting global growth, though the timing and durability of any agreement remains uncertain.

Why it matters

The potential ceasefire between the US and Iran could have significant implications for global energy markets and the broader economy. If an agreement is reached to reopen the Strait of Hormuz, it could help alleviate supply constraints and ease inflationary pressures that have weighed on the global economy.

The details

Trump claimed, without evidence, that Iran had agreed to terms it has long resisted, including giving up ambitions for a nuclear weapon and turning over nuclear material. The deal would also include 'free oil' and an opening of the Strait of Hormuz, Trump added. Tehran has not publicly confirmed it's made those concessions. Earlier, Trump announced a 10-day ceasefire between Israel and Lebanon. His announcement on Thursday made no mention of Hezbollah. Israeli Prime Minister Benjamin Netanyahu confirmed in a video message that he'd agreed to the truce.

  • The current Iran ceasefire is set to expire next week.
  • Trump announced a 10-day ceasefire between Israel and Lebanon on Thursday.

The players

Donald Trump

The President of the United States who has expressed optimism about securing a permanent ceasefire with Iran.

Benjamin Netanyahu

The Prime Minister of Israel who confirmed in a video message that he'd agreed to a 10-day ceasefire between Israel and Lebanon.

Iran

A country that has long resisted the terms Trump claims it has now agreed to, including giving up ambitions for a nuclear weapon and turning over nuclear material.

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What they’re saying

“The prospects for a deal with Iran are 'looking very good'.”

— Donald Trump, President of the United States

What’s next

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The takeaway

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