London, April 24, 2026 — Global oil prices declined on Friday as renewed prospects for diplomacy in the Middle East eased concerns over disrupted energy supplies, while equity markets showed mixed performance.
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Crude prices had surged earlier amid fears of prolonged conflict, with Iran keeping the Strait of Hormuz closed and the United States maintaining a blockade on Iranian ports. However, sentiment shifted after reports that Iranian Foreign Minister Abbas Araghchi was set to arrive in Islamabad, raising hopes for renewed negotiations.
Brent crude fell below $100 per barrel, reflecting optimism that tensions may ease. Analysts said investors were encouraged by signs of de-escalation heading into the weekend.
Market sentiment also improved after Israel and Lebanon agreed to extend their ceasefire for three weeks, further boosting hopes of regional stability.
On Wall Street, major indices opened higher, led by gains in technology stocks. The Nasdaq Composite rose 0.7%, supported by a strong rally in chipmakers. Shares of Intel surged 25% after the company exceeded quarterly earnings expectations and projected stronger demand for its data centre chips.
Other tech giants showed mixed performance, with Meta shares slipping while Microsoft edged higher. Both companies announced job cuts as they continue to invest heavily in artificial intelligence.
Investors are now positioning ahead of earnings reports from major US tech firms including Alphabet, Meta, Microsoft, Amazon, and Apple.
European markets were mostly lower in afternoon trading, with DAX holding steady despite data showing weakening business confidence in Germany, partly attributed to the ongoing Iran crisis.
Despite recent volatility, global equities have largely recovered earlier losses, supported by stronger-than-expected corporate earnings and continued optimism around artificial intelligence-driven growth.
